Vodafone: no stag party for Vantage Towers in Frankfurt
(CercleFinance.com) - Vantage Towers shares were up very slightly on Thursday morning in their debut on the Frankfurt Stock Exchange, currently trading at 24.
1 euros, against an IPO price of 24 euros.
The IPO price for Vodafone's telecoms masts and antenna subsidiary was set at the lower end of the initial range of 22.5-29 euros.
The deal, which values Vantage at around 12.1 billion euros, will however enable Vodafone to raise 2.3 billion euros via the placement of 18.9% of its subsidiary's capital on the market.
The sale of these 95.8 million shares will enable Vodafone to repay part of its debt.
At a meeting with investors and analysts today, Vodafone unveiled a series of medium-term financial targets, expecting to post above-market growth in fixed and mobile business.
The UK operator also expects to generate "double-digit" revenue growth in cloud, IT security, services and the Internet of Things (IoT).
Vodafone shares are currently up 0.3% on the London Stock Exchange.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
1 euros, against an IPO price of 24 euros.
The IPO price for Vodafone's telecoms masts and antenna subsidiary was set at the lower end of the initial range of 22.5-29 euros.
The deal, which values Vantage at around 12.1 billion euros, will however enable Vodafone to raise 2.3 billion euros via the placement of 18.9% of its subsidiary's capital on the market.
The sale of these 95.8 million shares will enable Vodafone to repay part of its debt.
At a meeting with investors and analysts today, Vodafone unveiled a series of medium-term financial targets, expecting to post above-market growth in fixed and mobile business.
The UK operator also expects to generate "double-digit" revenue growth in cloud, IT security, services and the Internet of Things (IoT).
Vodafone shares are currently up 0.3% on the London Stock Exchange.
Copyright (c) 2021 CercleFinance.com. All rights reserved.