By Olga Popova
MOSCOW, April 13 (Reuters) – Russian forestry group Segezha was valued by a few of funding banks that are arranging its preliminary public providing (IPO) at between 125 billion roubles to 333 billion roubles ($1.6 billion to $4.Four billion), 4 monetary market sources instructed Reuters on Tuesday.
Segezha, managed by conglomerate Sistema AFKS.MM, introduced IPO plans this week, aiming to lift a minimum of 30 billion roubles from newly issued shares, excluding an over-allotment choice of secondary shares.
UBS, JPMorgan JPM.N, Financial institution of America BAC.N, VTB Capital, Gazprombank and Renaissance Capital are arranging the deal. VTB Capital has valued Segezha at between 130 billion and 160 billion roubles on the pre-money foundation, or earlier than IPO, based on the sources.
One other arranger, Gazprombank, has put the corporate’s fairness worth at 125 billion to 205 billion roubles on the identical pre-money foundation, sources mentioned.
Renaissance Capital sees Segezha’s valuation post-money, or after it raises money within the IPO, at between 160 billion and 333 billion roubles, sources mentioned. Financial institution of America has put the identical valuation at $1.6 billion to $2.7 billion, they added.
VTB Capital, Gazprombank, Financial institution of America and Segezha itself declined feedback. Renaissance Capital didn’t reply to a Reuters request for a remark.
A roadshow is scheduled to start on April 19, with pricing on April 26, two monetary market sources have mentioned. Sistema will stay Segezha’s majority shareholder, based on Segezha.
Segezha cuts and processes timber to provide paper and different items offered in 100 international locations worldwide, based on the corporate web site.
($1 = 76.1396 roubles)
Russian forestry group Segezha targets $387 mln in IPO
(Reporting by Olga Popova Further reporting by Tatiana Voronova Writing by Katya Golubkova; Modifying by Lisa Shumaker)
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