TeliaSonera (TLSNY.PK,0H6X.L) confirmed that MegaFon has announced its publication of the prospectus and price range for its initial public offering, or IPO.
The price range has been set at $20 to $25 per share. The offering is expected to represent a minimum offer size of $1.7 billion. Pricing is expected to be announced and trading is expected to begin on November 28.
MegaFon's market capitalization is valued at around $11 billion to $14 billion on the basis of the price range.
Lars Nyberg, president and chief executive officer, stated, "We are happy to have reached this stage of the process and expect to receive proceeds of SEK 9 billion to SEK 11 billion following a successful completion of the IPO."
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