Moscow (AP) - MegaFon company shares in disappointing first appearance Russia's second largest mobile phone operator was forced to in Moscow on Wednesday and London $$1.7 billion initial public offering, its stock price in at the bottom of the target.
MegaFon company, in the past Russia's big three mobile company IPO held, said Wednesday it has sold a 15% stake in the $20 - within the scope of the bottom. Flotation dollars, $11.1 billion, less than analysts expected value of the company.
The company's share price fell 1.7%, to $19.66 per share, noon plate in the London stock exchange.
MegaFon company stock will be in Moscow and global depository receipt in London trade in the form of shares. Headquarters is located in Moscow company listed is the biggest a Russian company listed in Hong Kong since the aluminium producer Russia aluminum company in 2009 raised $2.2 billion.
MegaFon company, mainly concentrated in the Russian market, Russia's richest usmanov has 55.8%, and Sweden TeliaSonera 29% of the company holding company control. Usmanov is Russia's richest man, the estimate value of $1.8 billion.
Despite the worst IPO performance, chief executive Ivan Tavrin praised it as "a clear support MegaFon investment case", this "reflects investor appetite, Russia's mobile data growth story."
IPO also is not without its problem: in October after flotation on the shelf, Goldman sachs exit a key account manager in trade. Ratings agency standard &poor's last week the company shut down its negative watch list, but confirm looking for negative, this means that the degradation is possible, if the company's governance conventional threat to its performance.
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