TeliaSonera subsidiary Kcell announces intention to proceed with international offering in London and Almaty
- 2012-11-13 07:31 UTC
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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.
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