The government body that holds Slovak Telekom shares, the Property Fund of the Slovak Republic, will offer all of its stake in the form of shares to be listed in Bratislava and Global Depository Receipts and shares to be listed in London.
Slovak Telekom, which is 51% owned by Deutsche Telekom, has 1.163 million fixed line subscribers, including a pay TV base of 468,000 customers and a broadband base of 422,000 customers. Slovak Telekom has a fibre-to-the-home network that passes 364,000 homes. The operator also has an extensive base of mobile customers. The share sale will prioritise retail investors in Slovakia who submit early orders, who will also qualify for a 5% discount.
Deutsche Telekom is not offering any shares as part of the IPO.
Citigroup and JP Morgan are acting as joint global co-ordinators and joint bookrunners and Erste Group and Wood & Co. are acting as joint lead managers.
“By integrating services across our own fixed and mobile networks we have transformed Slovak Telekom into one of Central Europe’s most exciting telecommunications companies and Slovakia’s only truly integrated quad-play provider,” said Miroslav Majoroš, CEO of Slovak Telekom.
“Through significant capital investment, improved efficiency and enhanced capability we now have an integrated offering enabling us to deliver higher value services and premium content through triple and quad-play bundles. The IPO will mark an important next step in our development and bring greater visibility to the value we intend to create.”
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20 April 2018 @ 15:43:36 UTC