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Sistema examining possible IPO of Segezha Group

01.02.2021 − 

The Russian conglomerate AFK Sistema is currently examining the possibility of listing Segezha Group of Segezha on the stock market this year by means of an initial public offering (IPO). According to a press report issued by Sistema on 18 January, the IPO would be carried out depending on the general conditions on the stock markets. A final decision has not been taken yet, however. Sistema emphasises that the Segezha shares would not be listed on US stock exchange. At the time of the IPO of the online retailer Ozon in November, Sistema’s CEO and President Vladimir Chirakhov stated that Segezha Group was next in line to be put on the stock market.

Sistema had already announced in March 2017 that it was planning an IPO for Segezha Group. At the beginning of 2018, the planned IPO was rescheduled for 2020. Michail Schamulin, president of Segezha Group, had said at that time that the IPO was to take place as soon as the group achieved EBITDA of over RUB10bn. EBITDA of RUB13.2bn and RUB14.0bn were achieved in 2018 and 2019, respectively. The Sistema ordinary shares are traded on the Moscow stock exchange under the ticker symbol “AFKS”. Sistema depository receipts are listed on the London stock exchange under “SSA”.

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