Kazakhstan mobile phone operator Kcell has raised $525m (£326m) in its London and Almaty-based IPO for parent company TeliaSonera, the company said this morning.
The IPO, in which Kcell floated a 25 per cent stake, was priced at $10.50 per global depositary receipt and 1,578.68 Kazakhstan tenge per ordinary share, the company said.
The price of the offering implies a market capitalisation of Kcell of $2.1bn.
Following the offering, TeliaSonera will hold directly and indirectly 61.9 per cent of the company’s shares.
The deal is being led by UBS, Credit Suisse and Visor.
City A.M. Reporter