Kcel Raises $525 Million for TeliaSonera in London IPO
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TeliaSonera AB will receive $525 million from an initial public offering of its Kazakh wireless unit Kcell, the second share sale in one of the Swedish operator’s emerging-market units within two weeks.
The sale of 50 million shares was priced at $10.50 each, giving Kcell a market value of about $2.1 billion, Stockholm-based TeliaSonera said in a statement today. The price is the lower end of a range of $10.50 to $13 the shares were offered at. The stock will begin trading in London today.