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SIBUR structurally ready to conduct IPO quickly upon receipt of shareholders approval

July 05/2021

MOSCOW (MRC) -- SIBUR, the largest petrochemical complex in Russia and Eastern Europe, is ready to quickly conduct an initial public offering (IPO) upon receipt of an appropriate decision of shareholders, the company is structurally ready for placement, said Finanz, citing a statement to reporters by the head of the company Dmitry Konov in sidelines of the international industrial exhibition "Innoprom".

"The company is always structurally ready both in terms of reporting, and in terms of internal preparation, and in terms of relations with bondholders and potential investors, and in terms of business organization. Therefore, if there is a decision from shareholders - we are able to quickly conduct an IPO," - he said.

At the same time, in case of an IPO, SIBUR may place its shares on the Moscow Exchange, D. Konov added.

As reported earlier, an IPO of SIBUR is unlikely to happen this year, the main shareholder of SIBUR, Leonid Mikhelsonm, said in June.

As MRC informed before, in June, 2021, the international rating agency S&P Global Ratings confirmed the long-term issuer default rating of the Russian petrochemical company SIBUR at "BBB-" with a "stable" outlook.

We remind that in April, 2021, SIBUR announced a merger with TAIF by exchanging 15% of its shares for 50% + 1 share of TAIF. The scope of the transaction includes only TAIF's petrochemical and generating companies. This merger will increase the scale of SIBUR's operations and strengthen its market leadership. SIBUR and TAIF expect to reach final terms and close the deal in the second half of 2021. TAIF together with SIBUR will invest more than Rb 1 trillion for the implementation of joint projects. In total, the companies plan to implement over 30 projects.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.

SIBUR manufactures and sells petrochemical products on the Russian and international markets in two business segments: olefins and polyolefins (polypropylene, polyethylene, BOPP, etc.), as well as plastics, elastomers and intermediate products (synthetic rubbers, expanded polystyrene, PET, etc.)
Author:Margaret Volkova
Tags:PP, PE, petrochemistry, Sibur Holding, Taif, Kazan, Russia.
Category:General News
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