MegaFon delays London IPO - Mobile World Live

MegaFon delays London IPO

22 OCT 2012

Russian operator MegaFon has decided to delay its marketing for its planned IPO in London in order to add its third-quarter results and recent mergers and acquisition activity to its prospectus.

The company will also include the UK Listing Authority review of the flotation in the prospectus.

According to Russia’s number-two operator, investor engagement in the investor education process has been “exceptionally strong” and the company is looking forward to commencing its investor roadshow in “in due course”.

Bloomberg reported that MegaFon investors are looking to raise US$11 billion from share sales through the IPO.

The IPO was part of a settlement of a governance dispute between the operator’s three shareholders, AF Telecom, Altimo and Swedish operator group TeliaSonera, reached in April.

The settlement also included MegaFon paying out US$5.15 billion in dividends to the shareholders with Russian billionaire Alisher Usmanov’s AF Telecom taking majority control of the Russian operator.

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Tim Ferguson

Tim joined Mobile World Live in August 2011 and works across all channels, with a particular focus on apps. He came to the GSMA with five years of tech journalism experience, having started his career as a reporter... More

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