PRESS: Russia’s Segezha Group may be ready for IPO in 2019

MOSCOW, Aug 26 (PRIME) -- Russian pulp and paper holding Segezha Group, part of multi-industry holding Sistema, may be ready for an initial public offering (IPO) in 2019, President Sergei Pomelov said in an interview to Vedomosti business daily published Friday.

“According to its strategy, the company may be prepared for an IPO in 2019,” he saidþ

Mikhail Shamolin, president of Sistema Group, which owns Segezha, has said that the company is one of the firms that may have an IPO in future.

Pomelov also said that Segeazha had a 2015 net profit of 3 billion rubles and an operating income before depreciation and amortization (OIBDA) of 7 billion rubles, but this year OIBDA will jump by about 30% on a revenue of 40 billion rubles.

The company operates at many key markets in the world, selling paper to 53 countries. Segezha’s key markets are Europe, China and Southeast Asia, from where it receives 65% of its export revenue, he said.

(64.9459 rubles – U.S. $1)

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