MOSCOW (MRC) -- On 10 August, the Central Bank registered an additional issue of ordinary shares of PJSC SIBUR Holding, the largest petrochemical holding in Russia and Eastern Europe, reported BusinessOnline, citing Interfax.
Now the authorized capital of PJSC SIBUR Holding is Rb21,784, 791. There are 2,178,479.1 ordinary shares in circulation with a par value of Rb10 each one.
In accordance with the decision on the additional issue, the issuer is placing 384,437,000.489 new ordinary shares by private subscription.
The shareholders of TAIF PSC and their affiliates participate in the placement of shares.
As MRC informed earlier, on 23 April 2021, SIBUR announced a merger with TAIF by exchanging 15% of its shares for 50% + 1 share in 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 spend more than Rb1 trillion for the implementation of joint projects. In total, the companies plan to realize over 30 projects.
It was also reported that the petition for the acquisition of 100% of the voting shares of TAIF PJSC by SIBUR Holding PJSC was received by the FAS of Russia on 26 May, and on 20 July the FAS granted SIBUR's petition to acquire 100% of the voting shares of TAIF.
As a result of the merger, the total capacity share of the new SIBUR-TAIF group will be 100% for linear low density polyethylene (LLDPE) production, 87.4% - for polypropylene (PP), 80.8% - for high density polyethylene (HDPE) and 59.3% - for low density polyethylene (LDPE).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,176,860 tonnes in the first half of 2021, up by 5% year on year. Shipments of exclusively low density polyethylene (LDPE) decreased. At the same time, PP shipments to the Russian market were 727,160 tonnes in the first six months of 2021, up by 31% year on year. Supply of homopolymer PP and block-copolymers of propylene (PP block copolymers) increased. Supply of statistical copolymers of propylene (PP random copolymers) subsided.
SIBUR manufactures and sells petrochemical products in 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.).
PSC "TAIF" was established in 1995 and is the parent company of the group with the same name, which includes enterprises structured in four business areas: oil and gas processing, chemistry and petrochemistry (energy); investment and financial services; building; telecommunications and complex services, including trade. TAIF Group of Companies is a large Russian holding that controls 96% of the chemical, petrochemical and oil and gas processing industries in Tatarstan. The most important of its areas is the Chemical, Petrochemical and Oil and Gas Processing Divisions, which include the leading Russian polymer producers Nizhnekamskneftekhim and Kazanorgsintez.
MRC