The telco plans to offer up to 221.5 million shares at a price of €4.57 with the subscription period beginning on Monday and ending on November 24. Trading of the shares will begin on the Vienna stock exchange on November 27.
The net proceeds will be used to strengthen capital structure, accelerate infrastructure investments with a focus on the Austrian market as well as mergers and acquisitions, according to the operator.
“The excellent operational performance in the third quarter 2014 already showed a trend reversal for our Group. With the capital increase we will be able to further develop Telekom Austria Group,” said Hannes Ametsreiter, CEO of Telekom Austria Group.
“The proceeds of the capital increase we will be used to strengthen our balance sheet, boost infrastructure investments especially in Austria. Furthermore we will continue our expansion with focus on convergence as well as in-market consolidation and even consider expansion via new operations.”