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Name | Symbol | Market | Type |
---|---|---|---|
Vodafone Group PLC | NASDAQ:VOD | NASDAQ | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.035 | -0.36% | 9.765 | 9.76 | 9.77 | 9.81 | 9.71 | 9.76 | 2,423,941 | 16:43:38 |
By Adria Calatayud
Vodafone Group PLC and its European towers unit, Vantage Towers AG, on Tuesday set the price range for a planned initial public offering of Vantage, in which shares worth up to EUR2.8 billion ($3.32 billion) will be offered.
Vantage said the price range for its planned IPO on the Frankfurt Stock Exchange has been set at EUR22.50-EUR29 a share, giving it a market capitalization of between EUR11.4 billion and EUR14.7 billion.
Vodafone is targeting gross proceeds from a base offer of EUR2 billion from the sale of up to 88.9 million shares in Vantage, which may be increased by up to EUR500 million by placing up to 22.2 million Vantage shares with investors, Vantage said.
Vodafone has also made available up to 13.3 million shares, worth up to EUR300 million, to cover possible over-allotments, taking the maximum size of the offer to EUR2.8 billion, Vantage said.
Digital-infrastructure investor Digital Colony and Singapore-based equity fund RRJ have committed to buying Vantage shares worth EUR500 million and EUR450 million, respectively, Vantage said.
Vantage said it won't receive any proceeds from the IPO. Trading is expected to start on or around March 18, it said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
March 09, 2021 01:59 ET (06:59 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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