Kyrgyzstan lines up MEGA share auction for October

Kyrgyzstan lines up MEGA share auction for October

Kyrgyzstan’s Fund for State Property Management is set to auction off 100% of shares in the state-owned mobile operator MEGA.

Local outlet Akipress reports that the auction will take place in October 2023, with a starting price of at KGS14.60 billion (US$167 million) per share with bidding increments of KGS200 million. Applications are now open, and will close on 2nd October 2023 with the auction set to commence later that day.

Bidders are required to secure their entry with a ‘guarantee’ of 10% of the reserve price. Those that procure shares will be required to pay the Fund for State Property Management a fee of 7% of their total bid.

CommsUpdate reports that MEGA – registered as Alfa Telecom and previously known as MegaCom – vies with rival Nur Telecom (O!) for first place in the market, based on subscriber numbers. In a recent update, MEGA counted 5500 base stations among its assets.

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