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Russian forestry group Segezha announces IPO plan

MOSCOW, April 12 (Reuters) - Russian forestry group Segezha announced plans on Monday to hold an initial public offering (IPO) of ordinary shares on the Moscow exchange.

Segezha, controlled by conglomerate Sistema, said the IPO would involve a primary offering of newly issued shares to raise at least 30 billion roubles ($387 million) and an over-allotment option of secondary shares.

Sistema will remain Segezha’s majority shareholder, it said. ($1 = 77.6066 roubles) (Reporting by Olga Popova and Maxim Rodionov Writing by Tom Balmforth Editing by David Goodman )

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