MegaFon To Go Public In November

MegaFon To Go Public In November

Published: October 10, 2012 (Issue # 1730)

MOSCOW — Russia’s second-largest mobile phone operator MegaFon says it will go public in London and Moscow in November.

MegaFon, the last of Russia’s big three mobile companies to hold an IPO, said Tuesday in a regulatory filing that it would sell an unspecified amount of stock at Moscow’s MICEX and the London Stock Exchange by the end of the year.

MegaFon is controlled by Russian tycoon Alisher Usamov’s investment vehicle.

Shares will be sold by Swedish co-owner TeliaSonera, which owns 35.6 percent, and MegaFon itself.

MegaFon, second only to MTS in the number of subscribers, is focused on the Russian market, unlike MTS and Vimpelcom which have expanded outside Russia.

Moscow-based bank UralSib estimates the company value at $13 billion.

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