UPDATE 1-Megafon delays IPO roadshow until Q3 results
MOSCOW Oct 22 (Reuters) - Russian mobile phone company MegaFon said on Monday it will not start a roadshow for a stock market listing in London and Moscow until the release and evaluation of its third-quarter financial results.
MegaFon is seeking to raise around $2 billion from its initial public offering, sources have said. The listing could be the biggest by a Russian company since that of internet firm Yandex last year.
Despite the delay, MegaFon said in a statement that investor interest "has been exceptionally strong and the company is looking forward to commencing its roadshow in due course."
The company expects to announce third-quarter results in early November, a spokeswoman added.
MegaFon, Russia's No.2 mobile phone company, is controlled by the country's richest man, Alisher Usmanov, who has a stake of just over 50 percent. It had been expected to float a stake of around 15 percent, sources close to the deal had said.
Scandinavian telecoms group Teliasonera is a minority shareholder and is expected to sell shares in the IPO. MegaFon would also sell stock acquired in its buyout of minority owner Mikhail Fridman last April.
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