Segezha's main creditors could be potential participants in SPO along with AFK Sistema

MOSCOW. Nov 21 (Interfax) - The SPO of Segezha Group forestry holding, the timber-industry asset of AFK Sistema , as part of the company's plans to generate up to 101 billion rubles, will occur through private offering on behalf of the controlling shareholder, AFK Sistema, as well as the holding's main creditors, as expected, Segezha Vice President for Finance and Investments Anton Rozhkov said during a conference call on Thursday.

"The participant is of course assumed to be mainly the majority shareholder. Given its participation here, it is probably worth noting that this once again demonstrates to the market and confirms the shareholder's faith not only in the forest industry, but also in the development strategy of the Segezha Group after going public. There could potentially be major creditors among the participants," Rozhkov said.

"Understanding that the process is long, we could talk about some details at the time of placement. I propose waiting for this moment next year," Rozhkov said.

The company reported the previous day that shareholders would consider the matter of floating additional shares at an extraordinary general meeting on December 26, 2024, with December 3 as the date of record for the EGM. The organizational process to hold the SPO will require about four months, Rozhkov clarified during the conference call.