Ivan Tavrin, the chief executive of Russian mobile giant MegaFon, has purchased 1.25% of the company’s shares through its initial public offering (IPO). The purchase comprises 7.75 million shares at USD20 each, for a total of USD155 million, the company has revealed. In November 2012 the company’s board approved of plans permitting Tavrin to purchase up to 5% of the company’s share capital. MegaFon raised USD1.7 billion in its November IPO, giving it a market capitalisation of USD11.1 billion.
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