Telenor IPO: Indicative price range revised to NOK 42 to NOK 46 per Ordinary Share
Telenor announced today that, due to changed market conditions, it has revised the indicative price range for its IPO to be NOK 42 to NOK 46 per ordinary share (or US$13.57 and US$14.86 per ADS). The total Global Offering (excluding the over-allotment option) would raise a total of between NOK 15.6 billion and NOK 17.1 billion in the form of new shares, with the full proceeds accruing to Telenor.
The Global Offering will continue to comprise 372,151,899 ordinary shares (excluding the over-allotment option), arising solely from a capital increase, representing 21% of Telenor’s share capital after completion of the offering. The Ministry of Trade and Industry has granted the underwriters an over-allotment option representing 15% of the Global Offering, excluding the Norwegian retail offering.
Shares are expected to start trading on the Oslo Stock Exchange and on Nasdaq on Monday, on 4th December.
A copy of the prospectus for use in the United States can be obtained from:
Goldman, Sachs & Co.
Registration Department
85 Broad Street
New York, New York 10004
Further information:
Chief Press Spokesman Dag Melgaard, Telenor, tel: +47 22 77 85 90 or +47 901 92 000
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
