Books on the international stock market float of MegaFon, Russia's second-largest mobile phone firm, were covered on Monday a day ahead of time, helped by a large order from a global investment fund, sources said."The book is oversubscribed," said one source close to the deal, adding that the initial public offering appeared likely to be finally priced in the lower half of the range.MegaFon, controlled by Russia's richest man, Alisher Usmanov, is selling global depositary receipts in London and Moscow at $20-$25, potentially raising $1.7 billion to $2.3 billion and valuing the business at $11.2 billion to $14.0 billion.The listing would establish MegaFon as an alternative to New York-listed Russia market players MTS and VimpelCom Ltd , as it seeks to lure investors with a pledge to pay a chunky dividend yield of 7-8 percent.
VimpelCom Ltd. (VimpelCom) is a holding company. The Company operates in Mobile Telecommunications Businessand Fixed-Line Telecommunications and Fixed Internet Business. Shares of VIP fell by 2.42% or $-0.26/share to $10.50. In the past year, the shares have traded as low as $7.05 and as high as $12.55. On average, 1649490 shares of VIP exchange hands on a given day and today's volume is recorded at 1185684.
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