Sibsteklo is preparing to enter the IPO

Dear colleagues, we are publishing news about a member of the Association "StekloSouz" of Russia LLC Siberian Glass (Sibsteklo):

This was stated by Finance Director of Siberian Glass LLC (the largest manufacturer of container glass beyond the Urals, an asset of RATM Holding) Ekaterina Nesterenko during a discussion at the round table "Long-term financing - a driver for regional development", organized by the Bank of Russia.

The round table was attended by representatives of banking structures, securities issue organizers, the legal community, and large industrial enterprises.

According to Ekaterina Nesterenko, due to changes in the macroeconomic situation that occurred in 2022, financial institutions began to take a closer look at investment projects at the stage of making a decision on support, for example, paying attention not only to the payback period, but also to the composition of suppliers:

– We are trying to expand their range by including manufacturers of materials and components from Russia or friendly countries. We turn to parallel imports, but the search for optimal schemes increases the timing of the implementation of investment projects. The need for “long money” at Sibstekl will be updated next year, due to the need to identify funding sources for the repair of one of the glass furnaces, the preparation of which will begin in 2025.

According to Ekaterina Nesterenko, in 2022, banks took a wait-and-see attitude and did not seek to increase lending volumes in the face of uncertainty, although the criteria for evaluating applications from borrowers formally remained the same.

“Now the banks have enough liquidity and, first of all, they are interested in cooperation with industrial enterprises,” states Ekaterina Nesterenko.

Recall that in October 2022, the company placed a second bond issue in the amount of 300 million rubles on the MICEX. The funds were used to replenish stocks of raw materials and finished products, as well as to replace the loan portfolio that was withdrawn according to the plan.

“In the absence of strict requirements for collateral, the value of money raised on the stock exchange is higher than that received from a bank,” said Ekaterina Nesterenko. - In addition, coupon benefits are provided only for small and medium-sized businesses. However, if there are incentives from the state, using the potential of enterprises with a turnover of up to 10 billion rubles, it is also possible to develop the corporate bond market.

Its development for Sibstekla, as Ekaterina Nesterenko believes, is part of the implementation of a long-term strategy that involves an IPO within five years.