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Vodafone Group To Proceed With IPO Of Vantage Towers AG

Vodafone Group Plc (VOD.L,VOD), on Wednesday, confirmed that it would proceed the planned initial public offering or IPO of Vantage Towers AG, a tower infrastructure company in Europe.

Vantage Towers AG's listing and first day of trading on the Regulated Market of the Frankfurt Stock Exchange is expected to be before the end of March 2021. Further, the target free float of a meaningful minority share is expected to create a liquid market for Vantage Towers shares, the company said.

Vodafone noted that Vantage Towers' dividend policy is to pay out 60% of Recurring Free Cash Flow annually and intends to a pay a dividend of €280 million in this financial year, to be paid in July 2021.

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