SISTEMA PJSFC Sistema PJSFC: Segezha Group announces pricing of IPO and listing on Moscow Exchange

Directive transparence : information réglementée

28/04/2021 07:21

Sistema PJSFC (SSA)
Sistema PJSFC: Segezha Group announces pricing of IPO and listing on Moscow Exchange

28-Apr-2021 / 08:21 MSK
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Segezha Group announces pricing of IPO and listing on Moscow Exchange



Moscow, 28 April 2021 - Sistema PJSFC ("Sistema", the "Corporation" or, together with its subsidiaries and affiliates, the "Group") (LSE: SSA, MOEX: AFKS), a publicly traded Russian investment company, notes the announcement by its subsidiary, Segezha Group PJSC ("Segezha Group" or the "Company") regarding  the final offering price in respect of its initial public offering (the "Offering Price") and listing of ordinary shares on Moscow Exchange.


  • The Offering Price has been set at RUB 8 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 RUB 30 billion.
  • Sistema has granted Renaissance Capital as Stabilization Manager an over-allotment option (the Over-Allotment Option) to purchase shares in the amount equivalent to up to 15% of the total number of New Shares (the "Over-Allotment Shares"). The Over-Allotment Option is exercisable for a period of up to 30 days from 28 April 2021.
  • Based on the Offering Price, Segezha Group's total market capitalization on a post-money basis will be RUB 125.5 billion. Upon completion of the IPO, Segezha Group will have a free float of 23.9%, while Sistema will retain a 73.7% ownership stake, assuming no exercise of the Over-Allotment Option.
  • In connection with the Offering, the Company, certain directors and Sistema and its affiliates holding the Company's shares have agreed, subject to certain exceptions, to customary lock-up arrangements restricting the disposal of the Company's securities for a period of time following the Offering (180 days for the Company, Sistema and its affiliates holding the Company's shares, and 365 days for the above-mentioned directors).
  • Trading in ordinary shares of the Company is expected to commence today on Moscow Exchange under the ticker SGZH.

Vladimir Chirakhov, President of Sistema, said:

"We are delighted with the success of Segezha Group's offering, and welcome the expanded group of shareholders to this highly attractive business. Today, the Company begins a new chapter in its history with a successful IPO that attracted a diversified book of leading institutional investors from Europe, the UK, the US, and Asia, alongside strong demand from domestic institutional and retail investors.

"Segezha Group's success illustrates the transformative value that Sistema brings to the assets in its portfolio. Today Segezha Group becomes the fourth Sistema portfolio company currently traded on the public markets, alongside Ozon, MTS and Etalon Group.

"Sistema has maintained a majority stake in Segezha Group and believes that significant further potential remains to be unlocked. The Company is well positioned to continue its growth by capitalizing on its vertically integrated business model, market leadership in key products, advantageous cost base and robust project pipeline."

Full text of the announcement is available at Segezha Group's website https://segezha-group.com/en/press-center/news/segezha-group-announces-pricing-of-ipo-and-listing-on-moscow-exchange/.



Sistema PJSFC is a publicly traded Russian investment company with a diversified portfolio of assets serving over 150 million customers in the sectors of telecommunications, high technology, financial services, retail, paper and packaging, agriculture, real estate, tourism and medical services. The company was founded in 1993. Revenue in 2020 was RUB 691.6 billion; total assets equalled RUB 1.4 trillion as of 31 December 2020. Sistema's global depositary receipts are listed under the "SSA" ticker on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website: www.sistema.com.

For further information, please visit www.sistema.com or contact:

IR Service

Nikolay Minashin

Phone: +7 (495) 730 66 00


Press Service

Sergey Kopytov

Phone: +7 (495) 228 15 32


The information contained in this announcement does not constitute or form part of any offer for sale or subscription of or solicitation of any offer to buy or subscribe for any securities in the United States, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. Under the U.S. Securities Act of 1933, as amended, securities may not be offered or sold in the United States absent registration or an exemption from registration. Sistema does not intend to register any portion of any offering of securities in the United States or to conduct a public offering of any securities in the United States.

ISIN: US48122U2042
Category Code: MSCM
LEI Code: 213800JSZ2UUK4QQK694
Sequence No.: 101566
EQS News ID: 1189607

End of Announcement EQS News Service