O2TV plans to stage an over-the-counter flotation of a 20-percent share of its stock (25,000 common shares of the management company O2TV JSC) among a limited group of investors. IFC METROPOL will act as the financial consultant and organizer of the floatation.

O2TV JSC’s authorized capital currently stands at 100,000 common shares. After the additional share issue, it will stand at 125,000 common shares (2,000 shares are being sold by current shareholders). The offer price stands at between 400 and 450 dollars per share.

The Company’s present value, at which the share flotation will be made, stands at $40-45 million (“pre-money” valuation). 

Reference Note

O2TV, the first television channel intended for a youth audience, went on the air in July 2004. It conducts 24-hour-a-day broadcasts in 315 cities across Russia and the CIS countries constantly expanding its coverage area.