Sweden's Tele 1 Launches IPO

Sweden's Tele 1 Launches IPO

February 28, 2000

1 Min Read

Tele1 Europe Holding AB (Nasdaq:TEUR) announced the launch of its initial public offering totaling approximately US$500 million.

The Company intends to list its shares on the Stockholm Stock Exchange and quote its ADSs on the Nasdaq stock market under the Ticker symbol "TEUR". The offering is structured as a global offering of ordinary shares and American Depositary Shares. It is expected to consist of approximately 33.3 million ordinary shares, comprised of approximately 28.3 million shares to be sold by the Company in a capital increase and approximately 5.0 million secondary shares to be sold by existing shareholders. The expected price range for the offering is US$14 to US$16 per ADS (SEK120.67 to SEK137.90 per share). The offering will consist of two tranches: an international tranche targeted at European and US investors, and a Swedish retail tranche.

The proceeds of the IPO will be used to fund the Company's expansion, continued roll-out of its pan-Nordic broadband network and potentially for selected acquisitions.

The offering will commence on Feb. 28 and the proposed sale to the public is anticipated to take place during the week of March 13.

Tele1 Europe is a rapidly growing data and telecommunications operator with operations in Sweden, Denmark, Finland and Norway. Tele1 Europe focuses on the Nordic corporate market with services geared towards providing integrated broadband communications solutions. Tele1 Europe's network strategy is to provide high-capacity end-to-end connectivity to its customers. To date, Tele1 Europe has deployed 1,084 route km of backbone, 110 route km of local access fiber network and over 100 DSL POPs. Tele1 Europe has over 7,500 corporate customers, of which over 1,100 are directly connected.

http://www.bit.se/BIT/bol_pres.nsf/EnLookupStdDocByUniqueID/97F3BD057C04A33BC12568930055F0D9?OpenDocument

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like