Comstar’s IPO approved by authorities

23 Jan 2006

Russian fixed line operator Comstar UTS has been given the green light to sell 35% of its shares in an initial public offering (IPO) by the Federal Financial Markets Service. It was scheduled to set a price range for the sale on the Moscow and London stock exchanges this week. Analyst have estimated Comstar’s value at between USD1.4 billion and USD1.8 billion, and predict that the IPO will raise between USD400 million and USD550 million.

Russia, Comstar United TeleSystems (Comstar UTS)