Reuters - Video

Edition: U.S. | U.K. | IN | CN

Finance Videos

Daily Digit: Russia's MegaFon IPO

Wednesday, November 28, 2012 - 01:36

Nov.28 - Russia's second biggest mobile operator MegaFon has raised $1.7 billion through an initial public offering, the biggest telecoms listing in London for more that a decade but shares immediately trader. Hayley Platt reports.

▲ Hide Transcript

View Transcript

$1.7 billion is today's daily digit in Europe. It's the amount Russian mobile phone operator MegaFon raised through an initial public offering. It was the biggest stock market listing by a Russian company and the biggest telecoms listing in London for more than a decade. Shares were priced at $20 - the bottom end of the range. But that values the company at $11.1 billion dollars. A good buy says telecoms analyst Alexander Vengranovich. (SOUNDBITE) (English) OTKRITIE CAPITAL TELECOMS ANALYST ALEXANDER VENGRANOVICH, SAYING: "The company is in a good shape, everybody understands that it's a quality name. Russian telecoms market and especially mobile telecoms is one of the most stable markets in Russia in comparison to oil and in comparison to other sectors like utilities and metals. So for the next year I would expect that the growth of that segment will continue." MegaFon is owned by Alisher Usmanov - Russia's richest man - and is the country's second biggest mobile phone operator. It's now one of 65 Russian companies quoted on the London Stock Exchange But its decision to go public hasn't been without problems. Questions over corporate governance reportedly caused Goldman Sachs to drop out of the deal. And the UK Listing Authority only signed off on it after Usmanov promised to restructure assets to maintain overall control. Shares fell below the offer price when markets opened. But the $1.7 billion brings the amount of capital raised in London this year by Russian new issues to $8.2 billion.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Daily Digit: Russia's MegaFon IPO

Wednesday, November 28, 2012 - 01:36

Editors' Picks »

Business »

Moving Pictures »

Images of December Images of December

Tue, 23 Dec, 2014 - (0:30)

Tsunami - unclaimed possessions Tsunami - unclaimed possessions

Tue, 23 Dec, 2014 - (2:23)

Images of November Images of November

Tue, 02 Dec, 2014 - (0:30)

Images of October Images of October

Mon, 03 Nov, 2014 - (0:57)

The world in a city The world in a city

Fri, 31 Oct, 2014 - (1:30)

Real-life superheroes Real-life superheroes

Tue, 28 Oct, 2014 - (1:44)

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Sports And Leisure »

Mourinho's "Let's go to Wembley" Mourinho's "Let's go to Wembley"

Wed, 28 Jan, 2015 - (1:16)

Diver Daley trains in Rio Diver Daley trains in Rio

Tue, 27 Jan, 2015 - (0:55)

Drogba on his Chelsea hopes Drogba on his Chelsea hopes

Mon, 26 Jan, 2015 - (0:52)

NBA legend shoots from the hip NBA legend shoots from the hip

Wed, 14 Jan, 2015 - (1:13)

Tennis ace Murray proposes to girlfriend Tennis ace Murray proposes to girlfriend

Thu, 27 Nov, 2014 - (0:41)

Sports Spread: Tinkering Liverpool target Chelsea Sports Spread: Tinkering Liverpool target...

Thu, 06 Nov, 2014 - (11:18)

Flying car prototype takes to the skies Flying car prototype takes to the skies

Wed, 29 Oct, 2014 - (2:18)

Dateline Asia »

Samsung sees profits slide Samsung sees profits slide

Thu, 29 Jan, 2015 - (0:57)

Chinese firms on overseas shopping sprees Chinese firms on overseas shopping sprees

Thu, 29 Jan, 2015 - (2:28)

iPhone grabs top spot in China iPhone grabs top spot in China

Wed, 28 Jan, 2015 - (1:40)

Robot replacements for Foxconn's workers Robot replacements for Foxconn's workers

Wed, 28 Jan, 2015 - (1:12)

Alibaba could set sights on Yahoo Alibaba could set sights on Yahoo

Tue, 27 Jan, 2015 - (1:24)

Fashion designers finding haste makes waste Fashion designers finding haste makes waste

Tue, 27 Jan, 2015 - (2:07)

Be afraid, the Chinese are spending less Be afraid, the Chinese are spending less

Mon, 26 Jan, 2015 - (1:33)

Asia markets shrug at Greek elections Asia markets shrug at Greek elections

Mon, 26 Jan, 2015 - (1:36)

Asia markets toast ECB stimulus Asia markets toast ECB stimulus

Fri, 23 Jan, 2015 - (1:42)

Asia Week Ahead: Markets await Greece vote Asia Week Ahead: Markets await Greece vote

Fri, 23 Jan, 2015 - (1:18)

Reuters Investigates »

Where the sea is closing in Where the sea is closing in

Thu, 20 Nov, 2014 - (3:41)

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:22)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)