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

MOSCOW, Feb 1 (Reuters) - Russian forestry group Segezha has chosen JP Morgan and UBS to arrange its initial public offering in Moscow, people close to the matter told Reuters, joining other Russian names queuing up for equity raisings this year.

Segezha, owned by Russian conglomerate Sistema, aims to raise between $400 million to $500 million in Moscow this spring, depending on market conditions, the sources said, and the number of banks-arrangers could be widened.

JP Morgan and UBS declined to comment. Serezha is ‘constantly’ evaluating different options to finance its further development, including on the equity markets, the company told Reuters in a statement, adding that a final decision is yet to be taken.

Reporting by Olga Popova in Moscow and Arno Schuetze in Frankfurt Writing by Katya Golubkova; Editing by Susan Fenton