Vodafone to raise up to EUR 2.3 billion from Vantage IPO

News Wireless Europe 18 MAR 2021
Vodafone to raise up to EUR 2.3 billion from Vantage IPO

Vodafone has set the final offer price for the initial public offering of its unit Vantage Towers, at EUR 24 per share. The company had previously given a range of EUR 22.50-29.0 per share. Vodafone said it will place 95.8 million shares during the IPO, including 12.5 million for possible over-allotments, which means it could raise up to EUR 2.3 billion. The company said it will use the money raised to pay down debt.

The shares placed represent 18.9 percent of Vantage Towers issued and outstanding share capital, putting the unit’s total worth at EUR 12.1 billion. They started trading on the Frankfurt Stock Exchange (Prime Standard) on 18 March and closed the first day up slightly at EUR 24.35.

Vantage Towers has about 82,000 macro sites in 10 European countries. The company was founded last year and has its headquarters in Duesseldorf, Germany. The company’s portfolio includes towers, masts, rooftop sites, distributed antenna systems (DAS) and small cells across Vodafone's footprint in Europe.

Categories:

Mobile

Companies:

Vodafone,  Vantage Towers

Regions:

Europe

Tags:

Network equipment, Corporate strategy, Financial funding

Related Articles

EUROPE 28 JAN 2022

Deutsche Telekom discusses tower units merger with Vodafone, Orange - report

Deutsche Telekom has had preliminary discussions with Orange and Vodafone to merge the companies' mobile tower units, Bloomberg reports citing people familiar with the matter. According to the sources, Cellnex, which recently acquired Telekom towers in the Netherlands, has expressed interest also in merging tower assets with Telekom, the report added.

NETHERLANDS 29 DEC 2021

Last year in telecoms: strategies converging, what comes next?

With telcos increasingly following the same strategies in the sector, we look back at 2021 to see where there was progress and what's ahead for the future. Fibre and 5G remain the central focus for networks, while cloud computing and cybersecurity are high on everyone's agenda. Orange was especially active in 2021 when it comes to setting up partnerships, and perhaps there are some lessons to learn. In other tips, the Polsat Plus Group took the radical new direction of making energy a third business pillar,

GERMANY 20 DEC 2021

Deutsche Telekom prepares sale of tower business - report

Deutsche Telekom is preparing the sale of the mobile radio tower business, Handelsblatt reports citing sources. The sale could start as early as the end of the first quarter of 2022. Deutsche Telekom could opt to divest either a minority or a majority stake, the sources said.

EUROPE 15 NOV 2021

Vantage Towers revenues lift 2.5% in fiscal H1

Vantage Towers, the infrastructure operator spun off from Vodafone in the spring, said revenues for its fiscal first half to end September rose 2.5 percent from the year before on a pro-forma basis to EUR 494 million. The company said it was growing its commercial footprint in Hungary, Ireland and the Czech Republic while expanding its value proposition IoT and DAS services. The adjusted EBITDA lifted 2.6 percent to USD 427 million and the adjusted EBITDAal went up by 0.8 percent to USD 268 million. Recurri

AFRICA 17 SEP 2021

IHS Towers files for IPO on New York Stock Exchange

IHS Holding has filed a registration statement with the US Securities and Exchange Commission relating to a potential IPO on the New York Stock Exchange. In a statement, IHS Towers said the timing, number of shares to be offered and price range of the proposed offering have not yet been determined. The launch of the offering is subject to the necessary regulatory approvals, governance approvals and conducive market conditions.

EUROPE 22 JUL 2021

Vantage Towers grows quarterly revenue over 2%, adds 200 tenancies

Vantage Towers, the infrastructure operator spun off from Vodafone, reported revenues of EUR 246 million for its fiscal first quarter to June, up 2.1 percent from a year earlier on a pro forma basis. The company said it added over 200 new tenancies in the quarter, taking it to an average 1.41 per site from 1.40 in Q4.

EUROPE 18 MAY 2021

Vantage Towers offers first dividend after modest rise in FY results

Vantage Towers, the infrastructure company spun off from Vodafone, has announced annual results in line with its guidance and forecast a modest rise in results for the new fiscal year. After recurring free cash flow of EUR 384 million in its first year, the company said it will pay total dividends of EUR 280 million. 

EUROPE 18 MAY 2021

Vodafone Group returns to FY profit on lower revenues, targets higher EBITDA in new year

Vodafone Group reported a return to net profit in its fiscal year to March, at EUR 536 million versus a loss of EUR 455 million a year ago. The company maintained its dividend at 9 cents a share and said it aims to keep that as a floor in the coming years, as it focuses on returning to growth in adjusted EBITDA and cash flow. 

EUROPE 23 MAR 2021

Vantage Towers says not afraid of competition from satellite operators

Vodafone subsidiary Vantage Towers is not afraid of being put under pressure from competitors such as satellite operators, Chief Executive Officer Vivek Badrinath said in an interview with Welt newspaper. Satellites can help to connect antenna locations in remote areas to the internet, said Badrinath.

EUROPE 18 MAR 2021

Vodafone kan tot EUR 2,3 miljard ophalen met beursgang Vantage

Vodafone heeft de definitieve biedprijs voor de beursgang van zijn eenheid Vantage Towers vastgesteld op EUR 24,00 per aandeel. Het bedrijf had eerder een range van 22,50-29,00 euro per aandeel gegeven. Vodafone zei dat het 95,8 miljoen aandelen zal aanbieden tijdens de IPO, inclusief 12,5 miljoen voor mogelijke overtoewijzingen, wat betekent dat het tot 2,3 miljard euro zou kunnen ophalen. Het bedrijf zegt dat het het ingezamelde geld zal gebruiken om schulden af te betalen.

EUROPE 9 MAR 2021

Vodafone to raise minimum EUR 2 billion in Vantage IPO, sells stakes to Digital Colony, RRJ

Vodafone has set the share price range for the initial public offering of shares in Vantage Towers. At EUR 22.50-29.00 per share, the mobile towers operator will have a market capitalisation of EUR 11.4-11.7 billion in total. Vodafone reached a deal to sell a large part of the shares in the IPO to investors Digital Colony and RRJ. 

EUROPE 24 FEB 2021

Vodafone starts Vantage Towers IPO, to list in Frankfurt by end-March

Vodafone is moving ahead with the IPO of its subsidiary Vantage Towers in Q1 as planned. The company plans to list on the Frankfurt stock market by the end of March, Vodafone announced. Only existing shares of Vantage will be sold by Vodafone, in a "meaningful minority" to give the company a sufficient free float. 

EUROPE 15 FEB 2021

Vantage Towers reports 9-month revenue of EUR 723 million, with 1,400 tenancies added

European tower infrastructure operator Vantage Towers, a Vodafone Group company, has increased its portfolio to around 82,000 macro sites and to a presence in 10 markets across Europe, the company announced in a trading update. It has a leasing position in nine of these markets, following the recent addition of a 50 percent stake in UK tower company Cornerstone.

UNITED KINGDOM 11 JAN 2021

Vodafone UK transfers 50% stake in Cornerstone to Vantage Towers

Vodafone UK and Telefonica UK (O2) have announced the commercialisation of their 50/50 tower company Cornerstone Telecommunications Infrastructure.

EUROPE 24 JUL 2020

Vodafone names towers company Vantage, plans IPO in Frankfurt in early 2021

Vodafone Group has presented the name Vantage Towers for its infrastructure company. With over 68,000 sites across nine markets in Europe, the company has nearly EUR 1 billion in estimated annual revenues. Vodafone said it plans to list Vantage on the Frankfurt stock market in early 2021, while maintaining a majority stake in the business. 

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.