Kcell share offering priced at bottom of range

News Wireless Kazakhstan 12 DEC 2012
Kcell share offering priced at bottom of range
TeliaSonera's Kazakhstani subsidiary Kcell has announced the pricing of its initial public offering at USD 10.50 per GDR and KZT 1,578.68 per common share, with each GDR representing one share. The price is at the bottom of the earlier indicated range of USD 10.50-13.00 per GDR. Trading commences on 12 December. Based on the offer price, Kcell's market capitalisation is approximately USD 2.1 billion at listing. The offering consists of a sale by TeliaSonera of 50 million shares, including shares represented by GDRs, representing 25 percent of Kcell's share capital. Following the offering, TeliaSonera will directly and indirectly hold an interest of 61.9 percent in Kcell. TeliaSonera will receive USD 525 million (approximately SEK 3.5 billion) in proceeds from the offering, assuming that the book-runners' put option is not exercised.

Categories:

Mobile

Companies:

Telia,  Kcell

Countries:

Kazakhstan

Tags:

Shareholders & subsidiaries, Financial funding

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