MegaFon to implement IPO next year

The mobile provider MegaFon is planning an initial public offer on theRussian stock market in 2003, Andrey Klimov, head of the company's publicrelations department, declared. According to him, the operator considersthe placing of shares as one of the forms of attracting investments. It isplanned that the volume of the issue will amount to $200m. At the same timeKlimov pointed out that MegaFon did not rule out the possibility of issuingbonds or taking special-purpose loans as ways of attracting investments.At present, the company is negotiating with investment banks that areexpected to participate as financial consultants and underwriters of theissue. .

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