Telenor IPO: Indicative price range revised to NOK 42 to NOK 46 per Ordinary Share
Fornebu
1 minute read
Telenor announced today that, due to changed market conditions, it has revised the indicative price range for its IPO to be NOK 42 to NOK 46 per ordinary share (or US$13.57 and US$14.86 per ADS). The total Global Offering (excluding the over-allotment option) would raise a total of between NOK 15.6 billion and NOK 17.1 billion in the form of new shares, with the full proceeds accruing to Telenor.
The Global Offering will continue to comprise 372,151,899 ordinary shares (excluding the over-allotment option), arising solely from a capital increase, representing 21% of Telenors share capital after completion of the offering. The Ministry of Trade and Industry has granted the underwriters an over-allotment option representing 15% of the Global Offering, excluding the Norwegian retail offering.
Shares are expected to start trading on the Oslo Stock Exchange and on Nasdaq on Monday, on 4th December.
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
Shares are expected to start trading on the Oslo Stock Exchange and on Nasdaq on Monday, on 4th December.
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