Telenor to complete the divestment of its interests in VEON
(Thomson Reuters ONE) -
(Fornebu, 20 September 2017) Telenor ASA today announced that it has commenced
an offering of 90 million of its common shares in VEON Ltd. in the form of
common shares listed on Euronext Amsterdam and American Depository Shares (ADSs)
listed on NASDAQ under the ticker "VEON". Each ADS represents one VEON common
share.
Telenor currently owns approximately 346.7 million ADSs, which represents 19.7
per cent of VEON's total outstanding common shares, including the VEON ADSs that
are underlying Telenor's USD 1 billion, 3-year exchangeable bond due 2019.
Today's transaction represents approximately 5.1 per cent of VEON's total
outstanding common shares. The price at which Telenor will sell the common
shares and ADSs has not yet been determined. This transaction follows Telenor's
earlier sell-downs of approximately 164 million VEON ADSs in September 2016 and
70 million VEON ADSs and common shares in April 2017, and represents the final
divestment of Telenor's VEON ADSs, as Telenor expects to transfer the balance of
its remaining ADSs pursuant to the exchangeable bond.
Telenor will not comment beyond today's announcement at this point in time. The
pricing of the offering will be announced following the completion of the
bookbuilding process.
Citigroup and Morgan Stanley will act as joint global coordinators and joint
bookrunners for the offering.
The offering is being made pursuant to VEON's shelf registration statement on
Form F-3 initially filed with the Securities and Exchange Commission (SEC) on
23 May 2014, as amended and most recently declared effective on 20 April 2016
(the "Registration Statement"). The common shares and ADSs will be offered only
by means of a prospectus and accompanying prospectus supplement forming a part
of the effective Registration Statement. Prospective investors should read the
prospectus included in the Registration Statement, the preliminary prospectus
supplement and other documents that VEON has filed with the SEC for more
information. The Registration Statement, the preliminary prospectus supplement
and the documents incorporated by reference therein are available at the SEC's
website at www.sec.gov.
Alternatively, a copy of the prospectus and related preliminary prospectus
supplement may be obtained, when available, from Citigroup Global Markets Inc.,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717, toll-free: (800) 831-9146; Morgan Stanley & Co. LLC, 180 Varick Street,
2nd Floor, New York, NY 10014, Attention: Prospectus Department.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state or
other jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state or other jurisdiction.
For readers in the European Economic Area: In any EEA Member State that has
implemented the Prospectus Directive, this communication is only addressed to
and directed at qualified investors in that Member State within the meaning of
the Prospectus Directive. The term "Prospectus Directive" means Directive
2003/71/EC (and amendments thereto, including Directive 2010/73/EU, to the
extent implemented in each relevant Member State), together with any relevant
implementing measure in the relevant Member State.
For readers in the United Kingdom: This communication is being directed only at
(i) persons who are outside the United Kingdom or (ii) investment professionals
falling within Article 19(5) ("Investment professionals") of the Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or
(iii) certain high value persons and entities who fall within Article 49(2)(a)
to (d) ("High net worth companies, unincorporated associations etc") of the
Order; or (iv) any other person to whom it may lawfully be communicated (all
such persons in (i) to (iv) together being referred to as "relevant persons").
The common shares and ADSs are only available to, and any invitation, offer or
agreement to subscribe, purchase or otherwise acquire such common shares and
ADSs will be engaged in only with, relevant persons. Any person who is not a
relevant person should not act or rely on this document or any of its contents.
Investor Relations
Marianne Moe
Mobile: +47 9161 7631
marianne.moe(at)telenor.com
Helge Øien
Mobile: +47 9131 9242
helge.oien(at)telenor.com
Media Contact
Meera Bhatia
Mobile: +47 4684 4959
meera.bhatia(at)telenor.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Telenor via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 20.09.2017 - 22:11 Uhr
Sprache: Deutsch
News-ID 560744
Anzahl Zeichen: 5658
contact information:
Town:
OSLO
Kategorie:
Business News
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