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Telefonica to raise up to EUR 1.5 billion in Telxius IPO
2016-09-20 17:47:00| Telecompaper Headlines
(Telecompaper) Telefonica has launched the initial public offering for its infrastructure company Telxius and looks to raise up to EUR 1.5 billion. The Spanish operator is offering 90.9 million shares of 36.36 percent of the capital of Telxuis to qualified investors in a bookbuilding process running 20-29 September. The indicative price range for the shares is EUR 12-15 per share, meaning gross proceeds of EUR 1.09-1.36 billion. If demand is strong, Telefonica will sell additional shares to list in total 40 percent of the company. Pricing of the IPO is planned for 29 September, and the shares are expected to start trading in Madrid on 03 October. Telefonica plans to use the proceeds from the IPO for debt reduction.
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Category:Telecommunications
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