Global coordinators appointed for the listing of Telenor
Fornebu
2 minute read
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The Norwegian Ministry of Transport and Communications and Telenor today announced the appointment of global coordinators for the planned initital public offering (IPO) of Telenor AS. The listing is subject to approval by the Norwegian Government and Parliament (Stortinget).
Goldman Sachs and DnB Markets have been appointed joint global coordinators for the offering. The sale of shares in Norway will be handled by DnB Markets and Christiania Markets. The shares are intended to be sold on a broad basis in Norway.
The syndicate will be appointed at a later stage to assist in the IPO and listing. The lead banks have been selected at this early stage to enable thorough preparations prior to the listing, anticipated to take place during the second half of this year, subject to governmental and parliamentary approval and market conditions.
A fee of 1.50 per cent of the proceeds from the offering has been agreed. Of this, 0.15 per cent is an incentive fee which may be awarded upon the completion of the offering.
Telenor has also appointed Lazard as its financial adviser in connection with the planned IPO.
The syndicate will be appointed at a later stage to assist in the IPO and listing. The lead banks have been selected at this early stage to enable thorough preparations prior to the listing, anticipated to take place during the second half of this year, subject to governmental and parliamentary approval and market conditions.
A fee of 1.50 per cent of the proceeds from the offering has been agreed. Of this, 0.15 per cent is an incentive fee which may be awarded upon the completion of the offering.
Telenor has also appointed Lazard as its financial adviser in connection with the planned IPO.