Published: November 13, 2012
Kazakh subsidiary of TeliaSonera will float 25% of business.
Kcell, a Kazakh mobile telecoms company owned by Sweden’s TeliaSonera, plans to list in Kazakhstan and the UK.
The company will offer up to 25% of its business to investors, placing shares on the Kazakhstan Stock Exchange and global depositary receipts on the London Stock Exchange.
Announcing the IPO, chief executive officer Veysel Aral described it as “a significant milestone for our company” that should “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”.
Last year Kcell generated revenues of KZT178.7bn (US$1.19bn) and profit of KZT66.8bn.
Credit Suisse, UBS and Visor Capital are acting as joint global coordinators and joint bookrunners on the IPO. Renaissance Capital is acting as a joint bookrunner and Halyk Finance as a co-manager of the global offer. The domestic offer is being led by Visor Capital.