International law firm Freshfields Bruckhaus Deringer has advised the underwriters in relation to leading Russian mobile phone operator MegaFon’s $1.7 billion listing on the London Stock Exchange (LSE). MegaFon’s initial public offering is the largest listing in London in three years and the biggest Russian London listing since 2007.
TeliaSonera, one of MegaFon’s shareholders, and a MegaFon subsidiary are selling stock in the offering with the firm using its share of the raised funds for general corporate needs, including further development and network expansion, and for repayment of current liabilities
The Freshfields team was led by capital markets partner Peter Allen, US capital markets partner Don Guiney and managing partner of the Moscow office, Mikhail Loktionov.
Peter Allen commented, ‘MegaFon’s listing on the LSE is significant both in its relative size for the London equities market this year and as an example of the continued popularity of London as the foremost venue for major international firms when going to market. The deal is also an excellent example of Freshfields’ ability to provide first class, cross-border international legal support on deals of the highest value, complexity and importance.’
Freshfields has also recently advised Kazakhstan mobile operator Kcell and investment company BACIT on their London listings. Earlier in 2012 the firm also advised Dutch cable operator Ziggo on its NYSE Euronext share placement, which was Europe’s largest IPO for nearly a year and raised over €800 million.
