MegaFon CEO buys additional 1.25% of company

20 May 2013

Ivan Tavrin, CEO of Russian mobile giant MegaFon, has doubled his stake in the company to 2.50% Dow Jones Newswires reports. The shares, which were converted to global depositary receipts (GDR), were acquired at the company’s initial public offering (IPO) price of USD20 per share, for a total of USD155 million. The seller was Cypriot affiliate MegaFon Investments, which saw its own shareholding reduced to 7.57%. The purchase forms part of a long-term incentive plan under which Mr Tavrin is given the option to purchase up to 5% of the company’s share capital.

Russia, MegaFon