The banks which underwrote MegaFon’s IPO have exercised their over-allotment option worth US$139m.
Morgan Stanley, Sberbank CIB and SIB acted as joint global co-ordinators and underwriters on the deal, while Citi, Credit Suisse and VTB Capital acted…
The banks which underwrote MegaFon’s IPO have exercised their over-allotment option worth US$139m.
Morgan Stanley, Sberbank CIB and SIB acted as joint global co-ordinators and underwriters on the deal, while Citi, Credit Suisse and VTB Capital acted as underwriters for the offering.
MegaFon announced to the London Stock Exchange today that the banks had exercised the option granted to them to purchase an additional 195,727 shares and an additional 6,756,954 shares in the form of GDRs, at the price of US$20 per share. The new transaction brings total gross proceeds from the offering to US$1.83bn, said the statement.
As TelecomFinance reported at the end of last month, the company floated in London and Moscow, raising US$1.7bn for a 15.2% stake. Selling shareholders had agreed to grant the joint bookrunners an over-allotment option to acquire up to 10% of shares and GDRs at the offer price.
A telecom analyst in Russia told TelecomFinance today that the only surprising aspect of the announcement was that the banks had not yet exercised the full option to buy 10% of the placement.
