Kcell Offering Priced at $10.50 per GDR
Wednesday 12 December 2012
STOCKHOLM (TeliaSonera press room) – Kcell announced the pricing of the offering at US $10.50 per GDR and KZT 1,578.68 per common share and that trading will commence today.
The price has been set at $10.50 per GDR (Global Depository Receipt) and KZT 1,578.68 per share with each GDR representing one share. Based on the offer price, Kcell’s market capitalization is approximately $2.1 bln at listing.
The offering consists of a sale by TeliaSonera of 50 mln shares, including shares represented by GDRs, representing 25% of Kcell’s share capital. Following the offering, TeliaSonera will directly and indirectly hold an interest of 61.9% in Kcell.
TeliaSonera will receive $525 mln in proceeds from the offering, assuming that the book-runners’ put option is not exercised.