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TeliaSonera AB Sells Stake in Subsidiary Kcell AO; Kcell AO Announces Price Range for IPO


Thursday, 29 Nov 2012 02:00am EST 

TeliaSonera AB announced that its subsidiary Kcell AO announced its price range for the Initial Public Offering (IPO). The price range has been set at USD 10.50 to USD 13.00 per global depositary receipt (GDR). Pricing is expected to be announced and trading is expected to commence on December 12, 2012. Kcell’s market capitalization is valued at approximately USD 2.1 billion to USD 2.6 billion on the basis of the price range. The offering consists of a sale by TeliaSonera of 50 million shares, including the GDRs, representing 25% of Kcell’s share capital. TeliaSonera’s effective economic ownership of Kcell is currently 86.9% and following a successful IPO would be estimated to 61.9%. 

Company Quote

0.735
-0.02 -2.65%
10:53am EDT