Russia’s MegaFon is postponing its planned US$4bn listing on the London Stock Exchange for a second time until mid-autumn because of the turbulent conditions in financial markets.
The mobile operator originally planned to hold the IPO in July but…
Russia’s MegaFon is postponing its planned US$4bn listing on the London Stock Exchange for a second time until mid-autumn because of the turbulent conditions in financial markets.
The mobile operator originally planned to hold the IPO in July but reports emerged in late May saying Europe’s economic crisis had prompted it to delay it until early autumn.
A MegaFon spokesperson today confirmed the IPO has been delayed a second time and will most likely be held in mid-autumn.
Announcing major changes to MegaFon’s ownership structure in late April, major shareholders said they planned to list up to 20% of the company’s shares on the London Stock Exchange (LXE) “as soon as practically possible”.
According to earlier media reports, the company has mandated Russia’s Sberbank, Goldman Sachs and Morgan Stanley to act as global co-ordinators for the deal and Sberbank, Citigroup, Credit Suisse and VTB Capital as joint bookrunners.
