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April 27, 2017

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Russian mobile giant Megafon plans to launch IPO on LSE in 4th quarter

MOSCOW--Russia's number two mobile phone operator Megafon announced on Tuesday it planned to launch an IPO on the London Stock Exchange in the fourth quarter, in one of the biggest Russian share offerings of the year.

The company said in a statement that it intended to proceed with the IPO in the fourth quarter, subject to market conditions, using shares belonging to a Cyprus-based subsidiary and its Swedish shareholder TeliaSonera.

"Today is the right time for our IPO which will support a new stage in Megafon's development," chief executive Ivan Tavrin said.

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