TeliaSonera chief could spend $2 mln in Megafon IPO
MOSCOW. Nov 27 (Interfax) - TeliaSonera's President and CEO Lars Nyberg intends to participate in the initial public offering of shares in MegaFon through a private investment of $2 million, TeliaSonera said in a statement.
The shares will be purchased at the offer price. Nyberg is a member of the board of directors of MegaFon.
"I have a strong belief in the future prospects of MegaFon. As a member of the MegaFon board, making a sizeable investment in the company is a way for me to show my commitment," Nyberg was quoted as saying.
Nyberg could get 0.02% of Megafon if the shares are sold at $20 each.
Ivan Tavrin, Megafon's CEO, will buy 1.25% or 7,750,000 shares within 30 days of Global Depositary Receipts (GDR) beginning to trade on the LSE, buying the shares from Megafon subsidiary Megafon Investments at the IPO placement price. The IPO price range is $20-$25, so Tavrin could invest $155 million-$194 million.
The bid book closes at 2:00 p.m. London time.