Published: November 29, 2012
Kazakh subsidiary of TeliaSonera will float 25% of business.
Kcell, a Kazakh mobile telecoms company owned by Sweden’s TeliaSonera, has priced its IPO in Kazakhstan and the UK.
The company will offer 25% of its business to investors, placing shares on the Kazakhstan Stock Exchange and global depositary receipts on the London Stock Exchange.
The receipts sold in the global offer will be priced between US$10.50 and US$13. The listing is expected to value the company at US$2.1bn-US$2.6bn. An investor roadshow finished on December 11.
Last year Kcell generated revenues of KZT178.7bn (US$1.19bn) and profit of KZT66.8bn.
Credit Suisse, UBS and Visor Capital are joint global coordinators and joint bookrunners on the IPO. Renaissance Capital is joint bookrunner and Halyk Finance co-manager of the global offer. The domestic offer is led by Visor Capital.