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MegaFon verifies plans for IPO in 2021
Mobile phone operator MegaFon features verified intends to conduct an IPO regarding the London stock-exchange (LSE) and MICEX-RTS within the fourth quarter of this 12 months. The operator launched the facts of this IPO on the website for the LSE. This will be the largest IPO of a Russian organization since 2021, whenever VTB Bank carried out an IPO. Initially, MegaFon’s IPO ended up being scheduled for July, but as a result of the undesirable financial status on the stock areas, the IPO needed to be delayed.
The authorization for the MICEX-RTS to perform an IPO, in accordance with the resource “Vedomosti”, has already been received. Stocks of Sonera Holding B are meant to be placed on the market in the exchange.V., a subsidiary of TeliaSonera, which has 35.6percent of MegaFon, and a subsidiary of MegaFon – Cyprus Megafon Investments Ltd (14.4% of stocks). TeliaSonera may sell around 10.6percent of MegaFon stocks throughout the IPO, so long as the share of 25% plus 1 share remains, and Megafon Investments – up to 9.4per cent associated with total number associated with the operator.
MegaFon have not yet disclosed the quantity associated with offer when it comes to IPO. Specialists usually do not exclude that as a result, about 15percent of this stocks are set up on the market instead of the previously thought 20%. Reuters sources don’t exclude such a turn of activities, recommending that MegaFon may limit itself to attempting to sell stocks within the amount of about $ 2 billion, that will be notably lower than experts’ forecast of $ 3 billion.
Morgan Stanley and Sberbank KIB had been appointed as joint coordinators for the IPO, although earlier in the day it absolutely was stated that Goldman Sachs had been within the quantity of coordinators (in accordance with Reuters resources). Joint bookrunners are Citi, Credit Suisse and VTB Capital.
- MegaFon Prepares IPO for July;
- Megafon intends to protect a 3rd of Russia with 4G networks by the end of the season;
- Shareholders of Yota and MegaFon have combined assets inside the Garsdale holding.
- Vedomosti, Reuters