Segezha Group sells shares at 8 rbl at IPO to raise 30 bln rbl
MOSCOW, Apr 28 (PRIME) -- Russian pulp and paper holding Segezha Group, part of multi-industry holding Sistema, has placed 3.75 billion new shares at an initial public offering (IPO) at 8 rubles per share to raise 30 billion rubles, Sistema said on Wednesday.
"The offering price has been set at 8 rubles per offer share. The offering consists of an offering of 3,750,000,000 new shares, representing 31.4% of Segezha Group’s current share capital. Based on the offering price, total gross proceeds to the company from the IPO are 30 billion rubles," Sistema said.
Taking into account the placement price, the market capitalization of the holding will amount to 125.5 billion rubles. Sistema provided additional shares to Renaisssance Capital in the framework of an option for secondary share placement, equivalent to 15% of the entire number of new shares. The option shall be fulfilled within 30 days starting from Wednesday.
The free float of the company will amount to 23.9% if the additional placement option is not fulfilled. Sistema will retain 73.7% if the option is not fulfilled.
(74.9578 – U.S. $1)
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