Billionaire Vladimir Evtushenkov is considering an initial public offering of wood, paper and packaging producerSegezha Group after an ecommerce operator he holds a stake in notched themost successful Russian debut in nearly a decade last November.
Evtushenkov’sSistema PJSFC is preparing Segezha for a listing in 2021, the investment company said in astatement Monday. A formal decision to sell shares hasn’t been made yet, it said.
Online retailerOzon Holdings PLC, part-owned by Sistema, listed in New York last year in a sign that Russian companies are returning to the market after a long hiatus. State-owned tanker operator Sovcomflot OAO also sold shares in the fourth quarter.
A dozen Russian companies are considering IPOs and as many as six could try to sell shares in the first half of 2021, Dmitry Brodsky, Renaissance Capital’s head of equity capital markets for Russia & the CIS,said in December.
Video-streaming platformIvi.ru and retailerFix Price have said they are considering selling shares this year, although Ivi.ru laterdelayed its plans due to a proposal to limit foreign ownership of video-streaming services.
Segezha may be valued at about 60 billion rubles ($808 million), Sova Capital analysts including Oksana Mustiatsa said in a research note Monday.
— With assistance by Aine Quinn
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