IPO of shares of Segezha Group on MOEX
On April 28, 2021, the IPO of Segezha Group PJSC (Segezha Group, Company), the leading Russian timber holding, took place on the Moscow Exchange. The Company placed new shares in the amount of 31.4% of those previously issued for the amount of RUB 30 billion. Following the results of the IPO, JSFC Sistema PJSC remains the main shareholder of Segezha Group.
The securities were included in the first level of the listing, which allowed attracting a large number of institutional investors from both Russia and Europe, Asia and the United States.
LECAP acted as legal advisor on the transaction. Our lawyers advised on the transformation of the existing holding company into a joint-stock company, provided support in relation to the procedures of obtaining public status, issuing and listing of additional shares, and also developed an effective corporate governance structure in accordance with the listing rules.
The LECAP project team included Mikhail Malinovsky, Sergey Volkov, Dmitry Lisov and Maksud Kurbanov.
The Company plans to use the investments raised during the IPO to implement an investment strategy to increase production capacity and build new plants.
Segezha Group is one of the largest Russian vertically integrated timber industry holdings with a full cycle of logging and deep wood processing.