Kazakh mobile carrier Kcell has appointed banks to advise on its planned listings in Kazhakstan and London.
Credit Suisse and UBS are advising on the IPO which is seeking to raise up to US$802m, according to media reports.
Kazakh investment bank Visor…
Kazakh mobile carrier Kcell has appointed banks to advise on its planned listings in Kazhakstan and London.
Credit Suisse and UBS are advising on the IPO which is seeking to raise up to US$802m, according to media reports.
Kazakh investment bank Visor Capital has been appointed “market-maker” on the Kazakhstan float, it announced to the Kazakhstan stock exchange today.
As TelecomFinance previously reported, Nordic telco TeliaSonera agreed last year to buy a 49% stake in Kcell for US$1.52bn and announced that it intended to float a quarter of Kcell’s shares.
In its Q3 results announcement this year, Lars Nyberg, president and CEO at TeliaSonera said that “the preparation for a public listing of 25% of Kcell in Kazakhstan continues and will, if market conditions allow, be finalized before the year-end.”
Kcell is the second mobile carrier from the former Soviet Union currently planning to float on the London stock exchange. Russian operator MegaFon delayed its scheduled listing last month until an unspecified date after it has updated its prospectus to include recent acquisitions and third-quarter results. MegaFon agreed in October to acquire 50% of retailer Euroset for US$1.33bn.
TeliaSonera and UBS declined to comment today when contacted by TelecomFinance. Credit Suisse did not respond in time for the press deadline.
