TeliaSonera subsidiary Kcell announces intention to proceed with international offering in London and Almaty
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Kcell, the leading provider of mobile communications services in Kazakhstan, today announced its intention to conduct an initial public offering of its shares in the form of global depository receipts (GDRs) and a concurrent offering in Kazakhstan in the form of common shares.
The offering will comprise the sale of existing shares held by Sonera Holding B.V., a wholly owned subsidiary of TeliaSonera AB, in an amount of up to 25% of the shares in Kcell.
“Kcell is an important part of our global operations and one of the most successful subsidiaries of TeliaSonera”, says Lars Nyberg, President and CEO of TeliaSonera. “We are fully committed to Kcell, which will continue to benefit from using our global brand identity, participating in international roaming and joint technology initiatives, including common procurement across the TeliaSonera group. We will work with Kcell to ensure that it complies with international best practice in terms of corporate governance and corporate social responsibility as it makes the transition to a publicly listed company.”
“We are very excited to be listing Kcell both domestically and internationally. This is a significant milestone for our company, which over the past fourteen years has led the formation and development of mobile telephony in Kazakhstan”, says Veysel Aral, Chief Executive Officer of Kcell. “We expect that the IPO will help us to further strengthen our corporate brand and business reputation, improve our access to the international capital markets and help us to grow our business further”.
Please visit Kcell IR website for full announcement.
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 08.00 CET on 13.11 2012.
This press release does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefore. The offer and the distribution of this press release and other information in connection with the listing and offer in certain jurisdictions may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This communication is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order or (iv) other persons to whom it may lawfully be communicated (all such persons together being referred to as "relevant persons"). The offered securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.
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