Credit Suisse sells MegaFon shares for USD48m

15 Mar 2013

According to Bloomberg, Credit Suisse Group has placed 1.55 million depositary receipts in Russian mobile giant MegaFon, selling a stake worth about USD48 million.

In November 2012 MegaFon successfully completed an initial public offering (IPO) on both the Moscow Stock Exchange and on the London Stock Exchange (LSE). The process saw MegaFon raise USD1.7 billion, giving it a market capitalisation of USD11.1 billion. Morgan Stanley and Sberbank CIB (formerly Troika Dialog brokerage) served as global coordinators of the offering while Citi, Credit Suisse and VTB Capital acted as joint book runners.

Russia, MegaFon