Ice Group said that following the de-merger of its assets outside Scandinavia, the executive management will identify actions to make Ice Group even more competitive in Scandinavia, and maximise long-term value creation for shareholders. It is working on a number of plans to improve its competitive position in Scandinavia and continue the accretive network expansion in Norway. These include assessing various options for raising capital, such as listed equity, to finance the company's next growth phase.
Ice Group added that it has appointed Ice Norway head Eivind Helgaker as Ice Group CEO. He will continue his Norwegian duties. The group has filed for the completion of the de-merger with the Bronnoysund Register Centre and expects it to be registered and effective within the next week or so. Upon completion, Ice Group shareholders will receive one share in the de-merged entity for every Ice Group share.
The de-merged entity will consist of the joint ventures in Indonesia (Sampoerna Telekomunikasi Indonesia) and the Philippines (Broadband Everywhere) and will be named Net1 International. It is expected to be listed on the N:OTC market in the first week of September 2018. More details about Net1 International will be published once the de-merger has been registered.
