SMARTS to hold IPO in Q4

16 Mar 2005

Russian mobile operator SMARTS is planning to hold an IPO worth 20% of the company’s equity (USD200 million) in the fourth quarter of 2005. The company plans to use the proceeds to fund the acquisition of new companies and to expand its existing networks. SMARTS’ commercial director Andrey Girev says the cellco’s market valuation will reach USD1 billion by end-2005, at which date the company hopes to have signed up two million subscribers. SMARTS is active in 16 regions across Russia.

Russia, SMARTS Group