The Moscow telecom group Mobile TeleSystems (MTS) has become the first Russian company to launch an initial public offering (IPO) and secure a New York Stock Exchange listing since Russia's financial downturn in 1998. MTS launched $307 million worth of American Depositary Shares, with Deutsche Bank London and ING Barings the global coordinators and joint bookrunners. Lead managers were Credit Suisse First Boston, JP Morgan Securities, Renaissance Capital and Schroder Salomon Smith Barney.
July 31 2000