Segezha Group announces intention to float on Moscow Exchange

Segezha Group (part of PJSFC Sistema) announces its intention to conduct an initial public offering of ordinary shares and to list on Moscow Exchange.

The Offering will consist of a primary offering of newly issued shares to raise at least RUB 30 billion and an over-allotment option of secondary shares. Proceeds from the primary offering will be deployed to accelerate the Company’s growth by financing value accretive investments and optimizing leverage.

The Company aims to pay dividends of between RUB 3 billion and RUB 5.5 billion each year from 2021 to 2023. Starting from 2024, dividend distributions are expected to be based on adjusted free cash flow , with a 75%-100% payout stipulated in the Dividend Policy and potentially higher payouts in case of stronger markets and/or leverage headroom.