Serbia’s PM believe Russia concerned by instability in BalkansWorld March 28, 3:40
About 3,000 troops to take part in missile force’s drills in central RussiaMilitary & Defense March 27, 20:55
Russian footballers must ‘force own game’ on Belgium in Sochi friendly match — coachSport March 27, 20:34
UN denies rumors of Staffan de Mistura’s resignationWorld March 27, 20:16
Prominent Russian lawyer vows to look into detention of journalists during Moscow ralliesRussian Politics & Diplomacy March 27, 20:05
Kremlin says world chess tournaments should go as planned despite FIDE’s presidential rowSport March 27, 19:32
Ukrainian politician says Kiev turns deaf ear to public pleas to end Donbass blockadeWorld March 27, 19:17
Serbia to get Russian MiG-29 fighter jets 'within weeks'Military & Defense March 27, 18:51
Putin wants Russian Guard to ensure security at FIFA World CupSport March 27, 18:35
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.