Akin Gump Strauss Hauer & Feld LLP has advised AF Telecom, as the majority shareholder in OAO MegaFon, in relation to MegaFon’s initial public offering (IPO) listed on the London Stock Exchange.
Trading in the Global Depositary Receipts (GDRs) began on Wednesday, November 28. The flotation raised $1.7 billion, giving the company a market capitalization of $11.1 billion.
The IPO follows on from the $8.5 billion shareholder restructuring of MegaFon, announced in April 2012, on which Akin Gump also advised.
The Akin Gump team is led by Moscow capital markets partner Varun Gupta and London corporate partner Artem Faekov, with assistance from the firm’s Moscow and London offices.
