Support The Moscow Times!

Contribute today

Tobacco Handler Eyes IPO

By The Moscow Times

June 16, 2011

Tobacco distributor Megapolis is considering a London initial public offering this fall that could raise up to $1.5 billion.

Megapolis has been set a preliminary value of $8 billion, and the company might offer 25 to 30 percent of shares, including some owned by main shareholder Igor Kesayev, sources said Wednesday. Megapolis is the exclusive distributor for Japan Tobacco, Philip Morris and Imperial Tobacco in Russia, and is estimated to control just over 70 percent of the wholesale cigarette market.

Credit Suisse, JPMorgan, Deutsche Bank, Renaissance Capital and Troika Dialog together with Sberbank are the IPO organizers. Megapolis also distributes Energizer batteries.

(Reuters)

Russia Detains U.S.-Russian Citizen for 'Rehabilitating Nazism'

Yury Malev was accused of desecrating the St. George ribbon, a historical symbol of Russian and Soviet military successes, on social media.

Putin to Bet on Ultra-Conservatism, Economy and Victory in Ukraine in 2024 Election Campaign

With challenges to his rule all but removed, Putin's next six years in office promise to keep Russia on its current trajectory.

White House Mocks Putin Re-Election Bid

"Well, that's going to be one humdinger of a horse race, isn't it?" National Security Council spokesman John Kirby told reporters.

reproductive rights

Fourth Russian Region Outlaws ‘Coercion’ Into Abortion

The new law bans the “promotion of abortion and childfree lifestyles,” including “aggressive information on social media,” health officials said...