Vodafone Unit Vantage Tightens Price Range for Frankfurt IPO
- Narrowed price range is in the lower half of initial target
- Firm initially set a range of 22.50 euros to 29 euros a share
Photographer: Liesa Johannssen/Bloomberg
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Vodafone Group Plc’s mobile-phone towers unit narrowed the price range for its 2 billion-euro ($2.4 billion) initial public offering in the lower half of its original target, according to terms seen by Bloomberg News.
Most large listings in Europe this year have priced at the top end of their ranges, including offerings by Polish parcel locker provider InPost SA, German online car dealer Auto1 Group SE and the London IPOs of virtual greeting-card company Moonpig Group Plc and Russian discount retailer Fix Price Group Ltd.