MOSCOW, January 10 (RIA Novosti, Peter Lavelle)--Comstar UTS confirmed Monday that it would float ordinary shares in Russia and GDRs in London in 1Q06.
The company, which formally listed in Moscow last month as a preamble to an IPO, said the flotation would consist of new and existing shares.
Shareholders approved the additional issue of 150 million common shares last month, taking the total number of shares to 429 million from 279 million and implying 35% of the company could be placed through the IPO. Comstar may raise some $670 million though the placement.
