Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Syktyvkar Tissue Group OJSC (STG) Plans to Conduct its First Initial Public Offering on the MICEX at the End of May This Year


News provided by

Syktyvkar Tissie Group OJSC (STG)

11 May, 2011, 09:49 GMT

Share this article

Share toX

Share this article

Share toX

MOSCOW, May 11, 2011 /PRNewswire/ -- One of the largest tissue enterprises in Russia Syktyvkar Tissue Group OJSC, plans to conduct its first initial public offering on the MICEX at the end of May this year.

STG eyes to raise up to RUB700mn by offering up to 30% of its increased issue capital. Price range is from RUB11.4 to RUB14.5 per share. Order book is open till May, 24. STG is valued at around RUB2.68bn, or RUB16.65/share ($89.18mn, or $0.55/share) as of the end of 2011. Thus, the participation in STG's IPO at an offering price within the range of RUB11.4-14.5/share allows the investors to buy the stock which offers an upside potential of 15%-45% by the year-end. According to forecasts STG's value will be increased in 2.3 times comparing current level in 3-year period.

Specializing in investment-banking service of small and mid capitalization companies ALOR INVEST CJSC and Veles Capital Investment Company are the lead managers of this IPO.

KIT Finance Investment Bank (OJSC), Finam and Otkritie Financial Corporation are the underwriters. Brokercreditservice (BCS), one of the largest brokerage companies in Russia, is among agents.

According to Maxim Dremin, ALOR INVEST deputy CEO, almost 60% of active participants of Russian stock market and over 50% of main session stock turnover are hold by STG's IPO lead managers, underwriters and agents. Moreover we expect IPO to be successful and secondary trade to be in good stock liquidity due to a big free-float for Russian market.

Syktyvkar Tissue Group owns one of the largest tissue factories in Russia, which produces mainly base paper, toilet tissue, paper towels, and napkins. In terms of production volume, STG held 8% of the local toilet paper market (3rd place) and 26% of the local base paper market (1st place) in 2010. The company launched paper napkins and towels production in 2008 and reached 2% of Russian market in 2010. STG produces tissue of various raw materials - pulp and scrap paper - and targets diverse residential groups of both cost-effective and premium segment. Being of high quality, STG's base paper is also supplied to foreign producers, e.g. to SCA and Metsa Tissue.

STG plans to direct the proceedings raised from IPO to investment program realization of EUR60mn till 2015. Also the investment program will be financed via generated profit and obtained loans. The investment program envisages an upgrade of the existing capacities and the acquisition of new facilities both in Syktyvkar and Central region. As a result of investment program STG foresees an increase in sales from RUB1.8bn in 2010 till RUB4.5bn in 2015 and net profit from RUB93mn till RUB500mn accordingly.

<<During 2008-2010 our production facilities were doubled, sales increased in 3 times and the company became one of the leaders in the industry due to successful realization of first stage of investment program, - STG CEO Mark Reznik said. - So, the next stage of investment program is going to be effective thereby STG will strengthen its market position and raise market capitalization>>.

<<It will be the first Russian IPO in this industry. STG business clarity for the investors and capitalization solid growth potential form a basis for successful placement>> - said Micahel Zak, IC Veles Capital managing director.

Company description:

Syktyvkar Tissue Group is one of the biggest Russian pulp and paper mills, specializing on production of market base paper, toilet paper, paper towels and napkins. STG launched its production in 1972 as a tissue division at Syktyvkar Timber Processing Complex - the largest forestry factory at that time.

Company production facilities are equipped with modern lines designed by Metso Paper, Fabio Perini, and SDF. STG total floor area is 35 square meters, total staff - 400 persons. Company annual capacity exceeds 50 kilo tons of base-paper and 275 mn standard rolls or 14 mn standard packs.

Currently 100% of STG share capital is held by Sunken Finance Ltd with a beneficial Sergey Pogorelov. In 2005 Mr.Pogorelov bought <<Papirus>> LLC as a non-core asset for <<Mondy Syktyvkarsky TPC>> OJSC. Then <<Papirus>> LLC was renamed into <<Syktyvkar Tissue Group>> LLC and later in 2007 was reorganized into OJSC with issued capital 112.5 mn RUR (112.5 mn shares)

ALOR INVEST, JSC have been operating on the Russian stock market since 1993 and specializing in a range of financial services to corporate clients. Company provides brokerage services in all exchanges with the personalized service and advanced tools, including the commodity market, organizing bond. Company organizes placement of stocks of public corporations on market inclusion of shares in the quotation lists. Also ALOR INVEST The company has National Ratinf Agency individual reliability rating at AA + (very high reliability, the first level). In 2009, ALOR INVEST organized the initial public offering of shares of Human Stem Cell Institute, which became the first IPO in Russia after the crisis and the first IPO in the sector of innovation and growth companies on MICEX. ALOR INVEST acted as IPO of Farmsintez, JSC organizer - the largest IPO at the MICEX in 2010.

VELES Capital IC, LLC have been operating in Russian fond market since 1995 and it is one of the five largest investment companies in Russia by total turnover of securities. Veles Capital is a group of companies, which provides services to private and corporate investors in the stock and corporate finance market, collective investments and development areas. Veles Capital has the experience and capability to carry out projects of any complexity in the field of mergers and acquisitions, LBO and MBO transactions, direct investments, fund raising, IPO. The company successfully implemented dozens of projects in the market of corporate finance and strategic investments in Russia and Ukraine. Veles Capital is one of the few Russian investment companies with the reliability rating of the international rating agency S&P (rating was first assigned in 2006 and reaffirmed every year, the level is B-/C/ruBBB, stable outlook). Company has also a National Rating Agency Rating at the level of AA+ (very high reliability, the first level, positive outlook, confirmed in 2011).

    
    Additional information is available at http://ipo.alor.ru

    Contact persons at ALOR INVEST CJST (tel. +7-495-980-24-98):
    Stanislav Fomenko fomenko@alor.ru
    Marina Irkli Irkli@alor.ru
    Dmitry Lyutyagin lyutyagin@alor.ru

    Contact persons at IC Veles Capital (tel. +7-495-258-19-88):
    Michael Zak mzak@veles-capital.ru

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.