Telenor announces final details in relation to its IPO
Fornebu
2 minute read
At a press conference in Oslo Sunday, Telenor announced final details in relation to the completion of the Companys IPO.
The Global Offering comprised 372,151,899 Ordinary Shares (excluding the over-allotment option), arising solely from a capital increase, representing 21% of Telenors share capital. The final price will be NOK 42 per Ordinary Share, giving a total Global Offering (excluding the over-allotment option) of NOK 15.6 billion (or US $ 1.7 billion) in the form of new shares. Full proceeds will accrue to Telenor, and will be used to repay outstanding debt.
The underwriters have also been granted an over-allotment option of up to 51.6 million shares, representing 15% of the Global Offering, excluding the Norwegian retail offering, from the Ministry of Trade and Industry. Assuming the full exercise of the over-allotment option, the Global Offering will be approximately NOK 18 billion (or US$ 1.9 billion).
Approximately 79% of the outstanding share capital of Telenor is owned by the Kingdom of Norway following the Global Offering. This will be reduced to 76% if the over-allotment option is exercised in full.
Listings and Syndicate
The ordinary shares will be listed on the Oslo Stock Exchange under the symbol "TEL" and the ADSs will be listed on the Nasdaq National Market under the symbol "TELN".
Goldman Sachs International and DnB Markets were Joint Global Co-Ordinators for the offering. The sale of shares in Norway was lead managed by DnB Markets and Christiania Markets, and Goldman Sachs International was the international lead manager.
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
The underwriters have also been granted an over-allotment option of up to 51.6 million shares, representing 15% of the Global Offering, excluding the Norwegian retail offering, from the Ministry of Trade and Industry. Assuming the full exercise of the over-allotment option, the Global Offering will be approximately NOK 18 billion (or US$ 1.9 billion).
Approximately 79% of the outstanding share capital of Telenor is owned by the Kingdom of Norway following the Global Offering. This will be reduced to 76% if the over-allotment option is exercised in full.
Listings and Syndicate
The ordinary shares will be listed on the Oslo Stock Exchange under the symbol "TEL" and the ADSs will be listed on the Nasdaq National Market under the symbol "TELN".
Goldman Sachs International and DnB Markets were Joint Global Co-Ordinators for the offering. The sale of shares in Norway was lead managed by DnB Markets and Christiania Markets, and Goldman Sachs International was the international lead manager.
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