Vodafone: announces IPO price of Vantage
(CercleFinance.com) - On Tuesday Vodafone has set a price range of 22.
5 to 29 euros per share for the IPO of its subsidiary Vantage Towers, a price that should value its business of antennae and masts for telecommunications at 11.4 to 14.7 billion euros.
In a statement, the British mobile phone giant says that the investment funds Digital Colony and RRJ have already committed to subscribe to the operation (for 950 million euros).
The offer, which is expected to total around 2 billion euros, could reach 2.8 billion euros if the over-allocation option is exercised, Vodafone said.
Vantage Towers is set to begin trading on the Frankfurt Stock Exchange around Thursday of next week (18 March).
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