TEE: TeliaSonera AB: TeliaSonera subsidiary Kcell announces price range for
its Initial Public Offering (IPO)
UK Regulatory Announcement
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Kcell, the leading provider of mobile communications services in Kazakhstan,
today announced its price range for the 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 12 December.
Kcell’s market capitalization is valued at approximately USD 2.1 billion to
USD 2.6 billion on the basis of the price range.
“We are very pleased to have come this far in the process. Kcell is an
important part of our global operations and one of the most successful
subsidiaries of TeliaSonera. A listing of Kcell will create value for our
shareholders through higher liquidity and visibility, as well as through a
retained long-term strategic control,” says Lars Nyberg, President and CEO.
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%.
Please visit Kcell press
center(http://www.kcell.kz/en/article/show/238/false?navipageId=388) for full
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TeliaSonera provides network access and telecommunication services in the
Nordic and Baltic countries, the emerging markets of Eurasia, including Russia
and Turkey, and in Spain. TeliaSonera helps people and companies communicate
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leading European wholesale provider with a wholly-owned international carrier
network. In 2011, net sales amounted to SEK 104 billion, EBITDA to SEK 36.9
billion and earnings per share to SEK 4.20. The TeliaSonera share is listed on
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