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MegaFon on IPO on London Stock Exchange
9.10.2012 17:12
MegaFon on IPO on London Stock Exchange

The second largest Russian mobile operator MegaFon has claimed about launching initial public offering (IPO) on the Moscow MICEX-RTS and London Stock Exchange (LSE) in the fourth quarter 2012.

MegaFon informed, it will offer15-20% of its shares, held by Swedish–Finnish telecommunications group TeliaSonera and the MegaFon’s subsidiary Megafon Investments.

MegaFon would utilize the offering's net proceeds to repay and/or finance existing debt and for general corporate purposes, including the continuing development and expansion of its network.

Morgan Stanley and Sberbank CIB have been named Joint Global Coordinators and Joint Bookrunners, while Citi, Credit Suisse and VTB Capital have been appointed as Joint Bookrunners.

By the end of September MegaFon’s total customer base amounted 63.68 million people. In the second quarter the company’s revenue equaled 66.76 billion Rubles, the net profit was 1.7 billion Rubles.   

Author: Irina Fomina

Tags: Russian business Russian mobile networks    

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