Wednesday, November 28, 2012

Kcell valued at over $2 billion in IPO


Kazakhstan mobile operator Kcell has priced its IPO at $10.50-13.00 per global depositary receipt. This gives the company a market capitalisation of $2.1-2.6 billion. Pricing of the IPO is expected on December 12, with trading in Almaty and London to begin the same day.
The offering consists of a sale by TeliaSonera of 50 million shares, including the GDRs, representing 25 per cent of Kcell's share capital. After the IPO, TeliaSonera's stake will fall to 61.9 per cent.
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