{"id":218564,"date":"2021-03-18T11:20:48","date_gmt":"2021-03-18T11:20:48","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=312696"},"modified":"2021-03-18T11:20:48","modified_gmt":"2021-03-18T11:20:48","slug":"vodafone-to-net-e2-3b-as-tower-trading-begins","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2021\/03\/18\/vodafone-to-net-e2-3b-as-tower-trading-begins\/","title":{"rendered":"Vodafone to net \u20ac2.3B as tower trading begins"},"content":{"rendered":"

<\/p>\n

\tVodafone Group\u2019s Vantage Towers began trading on the Frankfurt Stock Exchange, with the listing valuing the infrastructure unit at more than \u20ac12.1 billion after shares were priced at \u20ac24 each.<\/p>\n

Vodafone will generate \u20ac2.3 billion from the deal, as long as an over-allotment option is fully exercised.<\/p>\n

The operator had set an IPO price range [1] at between \u20ac22.50 and \u20ac29 per share, before narrowing it to between \u20ac24 and \u20ac25 prior to the start of trading this morning (18 March).<\/p>\n

Vodafone will continue to hold just over 81 per cent of the unit, if all goes to plan, with the proceeds used to reduce debt.<\/p>\n

Ahead of the listing, Vodafone CEO Nick Reid said the IPO unlocks value for shareholders and demonstrates \u201cthe value of our tower assets in a 5G world\u201d. He added it set up Vantage Towers to unlock \u201cits full potential as a focused independent tower operator\u201d.<\/p>\n

Vodafone announced its plans for the IPO at the start of March, and Vantage Towers\u2019 offer to prospective investors ended yesterday (17 March), before free trading began.<\/p>\n

Its CEO Vivek Badrinath said it had \u201cgreat engagement with investors\u201d and was pleased to complete the offering.<\/p>\n

\u201cThe IPO is an important milestone and sets the foundations for the next stage of Vantage Towers\u2019 growth within the dynamic towers sector,\u201d he added.<\/p>\n

Vodafone\u2019s move comes as towers and infrastructure units continue to generate interest [2] among specialist investors and private equity companies, with operators targeting the assets as a way to raise cash to cut debt and fund investment in next-generation networks.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/vodafone-seeks-at-least-e2b-from-tower-ipo
\n[2] https:\/\/www.mobileworldlive.com\/blog\/blog-the-great-big-tower-debate<\/p>\n\n

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Vodafone Group\u2019s Vantage Towers began trading on the Frankfurt Stock Exchange, with the listing valuing …<\/p>\n

The post Vodafone to net \u20ac2.3B as tower trading begins<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n<\/div>","protected":false},"author":247,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"slim_seo":{"title":"Vodafone to net \u20ac2.3B as tower trading begins - ITTeacherITFreelance.hk","description":"Vodafone Group\u2019s Vantage Towers began trading on the Frankfurt Stock Exchange, with the listing valuing ... The post Vodafone to net \u20ac2.3B as tower trading begi"},"footnotes":""},"categories":[11,8],"tags":[],"_links":{"self":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/218564"}],"collection":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/247"}],"replies":[{"embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=218564"}],"version-history":[{"count":1,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/218564\/revisions"}],"predecessor-version":[{"id":218565,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/218564\/revisions\/218565"}],"wp:attachment":[{"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=218564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=218564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=218564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}