First Russian Company to Enter International Equity Markets Since August 1998
30 June 2000
Mobile TeleSystems OJSC (“MTS”) today announced the completion of its Initial Public Offering (the “Offering”) of 15,010,612 American Depositary Shares (ADSs), each representing 20 shares of MTS common stock, at an offer price to the public of US$21.50 per ADS. As of today MTS’s ADSs were officially admitted for listing on the New York Stock Exchange under the symbol “MBT”.
The issue size is 300,212,240 shares of common stock, representing 15.4% of the Company’s equity. MTS has granted the underwriters an overallotment option of 15% of the offering. The Joint Global Co-ordinators for the Offering are Deutsche Bank AG London and ING Barings Limited.
The Company will receive net proceeds of approximately $305 million. The net proceeds of the offering represent new financing.
A written prospectus may be obtained from Deutsche Banc Alex. Brown at, 31 West 52nd Street, New York, NY 10019 and ING Barings LLC at 55 East 52nd Street, New York, NY 10055.
MTS is headquartered at 4, Marksistskaya Street in Moscow, Russia.
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For further information contact:
MTS
Press Secretary
Eva Prokofyeva
Tel: +7 (095) 104-49-38
Gavin Anderson and Company
In New York
Managing Director
Scott Tagliarino
Tel: +1 (212) 515-19-00
Mobile: +1 (917) 375-35-55
In London
Marina Boughton
Associate Director
Tel: +44 (207) 496-14-50
Mobile: +44 (777) 599-24-37 |
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