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Vodafone, Vantage Towers Set Final Offer Price For Vantage Towers IPO

Vodafone Group Plc (VOD.L,VOD) and Vodafone GmbH, in consultation with Vantage Towers AG, have set a final offer price of 24.00 euros per share for existing ordinary registered shares with no par value offered in Vantage Towers' initial public offering. Vodafone is placing 95,833,334 shares in the IPO, amounting to a total placement of up to 2.3 billion euros. The shares placed represent 18.9% of Vantage Towers' issued and outstanding share capital.

Based on the offer price, Vantage Towers' total market capitalisation amounts to approximately 12.1 billion euros. Shares are expected to begin trading on the Frankfurt Stock Exchange on 18 March 2021.

Vodafone will use the net proceeds to pay down debt.

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