MegaFon Delays IPO Marketing Campaign to Amend Prospectus
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OAO MegaFon, the Russian wireless carrier planning an initial public offering, postponed its IPO marketing campaign the day it was supposed to begin, raising investor speculation that demand may have trailed expectations.
Potential investors had prepared to attend a MegaFon event in Moscow today, only to learn this morning that it had been canceled, said Yuri Morogov, a portfolio manager at Troika Asset Management in the city. MegaFon said in a filing today it will proceed with marketing “at a later date,” after including recent acquisitions and third-quarter results in the prospectus.