Russia hopes to receive roadmap from IPC on Paralympic membership soonSport October 25, 20:03
Lukoil warns about fake "namesake" company in UKBusiness & Economy October 25, 19:39
Russia keeps urging West to set up wide coalition against terrorismRussian Politics & Diplomacy October 25, 19:37
The farthest shore: peaceful images of Russia's Primorsky KraiSociety & Culture October 25, 19:17
Russia to exhibit over 200 military hardware items at Airshow China-2016Military & Defense October 25, 19:06
Venezuela’s oil minister says Iraq should be part of oil production freeze dealBusiness & Economy October 25, 18:52
IAAF supports IOC decision to encourage Russia’s whistleblowing coupleSport October 25, 18:14
MP blasts ‘cynical’ calls to suspend Russia from UN Human Rights CouncilRussian Politics & Diplomacy October 25, 18:08
Minsk sees military cooperation with Moscow productiveWorld October 25, 18:04
MOSCOW, November 30 (Itar-Tass) —— Russian mobile operator MegaFon shares will be offered at 20 U.S. dollars per piece during an initial public offering on the MICEX and London Stock Exchanges.
The shares started trading on November 28. The overall volume to be traded is 1.7 billion U.S. dollars, less overallotment option.
Based on the asking price, MegaFon’s market capitalisation is estimated at 11.1 billion U.S. dollars.
“Upon the end of the offering and until the overallotment option, shares in free float will make up about 15.2 percent of the company’s authorised capital,” MegaFon said. AF Telecom will own 55.8 percent of shares and TeliaSonera will hold nearly 29 percent of shares.
MegaFon plans to use about 50 percent of net earnings from the IPO received through the subsidiary MICL to repay or refinance its current debt, and use the remaining funds for corporate purposes, including further development and network expansion.
Morgan Stanley and Sberbank CIB have been appointed joint global coordinators and joint book-runners; Citi, Credit Suisse and VTB Capital are joint book-runners.
The chairman of the MegaFon Board of Directors, Sergei Soldatenkov, said that the company’s strategy is to ensure high rates of return on capital for all investors. “We are confident that the implementation of our strategy will allow new shareholders of the company to take advantages related to h further growth of the Russian mobile communication market,” he said.
“High demand among top-class investors was registered in all regions where MegaFon securities were offered,” the company’s Director-General Ivan Tavrin said.
In his opinion, “The successful IPO confirms the company’s investment attractiveness and testifies to investors’ interest in the growing Russian market of mobile communication services.”
“We are committed to active work to ensure profitable growth and increase the shareholder value of the company,” he said.