Vodafone Announces Vantage Towers IPO Price Range - Quick Facts

Vodafone Group Plc (VOD.L,VOD), Vodafone GmbH and Vantage Towers AG have set the price range for existing ordinary registered shares with no par value to be offered in Vantage Towers' planned initial public offering at between 22.50 euros and 29.00 euros per share. The price range implies a total market capitalisation for Vantage Towers of 11.4 billion euros to 14.7 billion euros.

Vodafone is targeting gross proceeds from the base offer of 2.0 billion euros from the sale of up to 88,888,889 shares. Vodafone may increase the base offer with an amount of up to 500 million euros, by placing up to 22,222,222 additional shares with investors. The maximum offer size will be 2.8 billion euros, through the exercise of the upsize option and the greenshoe.

Digital Colony and RRJ have agreed to purchase shares in the IPO at the offer price, with commitments of 500 million euros and 450 million euros respectively.

The offer period will commence on 9 March and end on or around 17 March. The final offer price per share and the final number of shares placed are expected to be determined on or around 17 March 2021. Trading of the shares on the Regulated Market of the Frankfurt Stock Exchange is expected to begin on or around 18 March under the trading symbol, VTWR.

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