Deals
Telefonica Said to Plan to Narrow Telxius Range to Low End
- Investors have expressed demand at closer to 12 euros a share
- IPO’s new price range expected to come as early as Tuesday
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Telefonica SA is expected to narrow the price range in the initial public offering of infrastructure unit Telxius Telecom SA toward the low end of its estimate, based on demand from institutional investors, according to people familiar with the matter.
Investors have shown interest in buying at the low end of the range of 12 euros to 15 euros a share, the people said, asking not to be identified because the deliberations are private. Telxius hasn’t yet told investors it has demand for all the shares on offer, two days before the sale is scheduled to end, the people said.