Page 77 - RusRPTApr19

$2bn-3bn based on a valuation of $20bn-$26bn. With the construction of a new petrochemical processing facility in Tobolsk, in Siberia, the company’s current investment cycle is coming to an end and as growth plateaus the board believes that this is the right time to consider an IPO, Sibur CEO Dmitry Konov told bne IntelliNews in an exclusive interview, “Plastics in the snow: Sibur takes the lead in Russia's burgeoning petrochemical sector,” in December 2018. If it happens then Sibur’s IPO would not only make Russia's biggest IPO in more than a decade, but it would also be a litmus test of the attractiveness of Russia's largest names in the face of the mounting sanction pressure. Russia's largest petrochemical holding is controlled by Kremlin insiders Leonid Mikhelson (48.5%), Gennady Timchenko (17%), and Kirill Shamalov (3.9%). Chinese Sinopec and the Silk Road fund each acquired 10% in the company. The Tobolsk project cost about $9bn and will potentially boost the company's output of polymers two-fold while increasing Ebitda by 50%.
77 RUSSIA Country Report April 2019 www.intellinews.com