Telefonica reports that the number of shares in its subsidiary Telefonica Deutschland to be offered in the recently announced IPO, as well as the offer period and the price range within in which investors may submit purchase orders has been determined. The commencement of the offer period is subject to the prior approval of the securities prospectus by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin).
The number of shares offered to the market is 258,750,000 including the shares that the underwriters have the option to purchase under the greenshoe option, representing approximately 23.17 percent of Telefonica Deutschland’s share capital. Telefonica Group will remain the majority shareholder of the company.
The price range within which investors may submit purchase orders is between EUR 5.25 and EUR 6.50 per share, corresponding to total gross proceeds at the mid-point of the price range of EUR 1.520 billion (including the shares under the greenshoe option). The period in which interested investors can submit their offers to purchase shares is scheduled for 17 October and is scheduled to end on 29 October. The first day of trading of the shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange is expected to be on 30 October.
