Megafon, the Russian operator, has appointed Goldman Sachs and Morgan Stanley as joint global co-ordinators for the company’s US$4bn London IPO, IFR wrote without revealing its sources.
It is expected that Megafon appoints a number of additional…
Megafon, the Russian operator, has appointed Goldman Sachs and Morgan Stanley as joint global co-ordinators for the company’s US$4bn London IPO, IFR wrote without revealing its sources.
It is expected that Megafon appoints a number of additional bookrunners within the next few days.
The publication claimed that BofA Merrill Lynch, Citigroup, Barclays, Credit Suisse, Deutsche Bank, UBS, JP Morgan, Sberbank, VTB and Renaissance Capital all pitched for roles at the top of the syndicate and that more than two banks had been expected to get awarded with joint global-co-ordinator roles.
Megafon recently saw a major ownership reshuffle, when Alisher Usmanov’s AF Telecom took 50% plus one share in the company, while TeliaSonera reduced its stake to 35.6%, and Altimo sold its entire stake.
The three major stakeholders said at the time that an IPO was planned “as soon as practically possible.”
The listing of 20% of Megafon could be the largest IPO in the UK in a year.
In 2011, Megafon generated revenues of Rbs242.6bn (US$8.2bn), and a net income of 43.6bn (US$1.48bn), according to its website.
