UPDATE 1-Russia's Segezha targets $400-500 mln in Moscow IPO -sources

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MOSCOW, Feb 1 (Reuters) - Russian forestry group Segezha is preparing for a spring initial public offering in Moscow, people close to the matter said, joining other Russian names queuing up to raise funds in strongly-performing equity markets.

Segezha, owned by Russian conglomerate Sistema, aims to raise $400-500 million with the flotation, which would value the company at well above $1 billion the people said.

UBS and JP Morgan are acting as global coordinators and organising the deal, while other banks are currently being drafted in to help with the listing, they added.

JP Morgan and UBS declined to comment.

Segezha said that it is ‘constantly’ evaluating different options to finance its further development, including on the equity markets, adding that a final decision is yet to be taken.

Other Russian companies, including non-food retail chain Fix Price and mining company Nord Gold are also planning stock market listings in the first half of this year, while a swathe of companies rush to list on European stock exchanges and benefit from strong investor appetite for new issues.

Last week, $12 billion euro Polish parcel locker firm InPost jumped on its Euronext debut in Amsterdam, as did $5 billion boot brand Dr. Martens in London.

In Germany, used car trader Auto1 is expected to price at the top end of its price range later this week, while British greeting card maker Moonpig upsized its deal by 30% on strong demand.

Although the rapid spread of a new coronavirus variant is expected to deal a fresh hit to economies, stock markets have remained resilient and demand, especially for tech and growth firms, remains strong.

The likes of Deliveroo, Darktrace, Trustly, Transferwise and Allfunds are all expected to launch share offerings later this year, sources have said, adding that other groups like towers group Vantage are also preparing IPOs.

In Russia, miner GV Gold and video streaming platform are considering stock market flotations later year, according to people close to the matter. (Reporting by Olga Popova in Moscow and Arno Schuetze in Frankfurt Writing by Katya Golubkova; Editing by Susan Fenton, Kirsten Donovan)