Telenor announces pricing of its offering of 70 million VEON common shares and AD
07/04/2017
Citigroup and Morgan Stanley have acted as joint global coordinators and joint bookrunners for the offering.
Following the transaction, VEON will no longer be treated as an associated company in Telenor's financial reporting and all of the previously recognised currency translation differences, amounting to an accounting loss of NOK 7.5 billion, including tax effects related to the hedging instruments, will be reclassified to the income statement. The effects of reclassification do not impact the total equity of Telenor. The effect will be recognised in the second quarter 2017.
The net proceeds of USD 259 million (around NOK 2.2 billion) will be included in Telenor's cash flow statement for the second quarter 2017.
The offering of common shares and ADSs 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 final 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@telenor.com
Helge ien
Mobile: 47 9131 9242
helge.oien@telenor.com
Media Contact Glenn Mandelid
Mobile: 47 9266 1300
glenn.mandelid@telenor.com
Meera Bhatia
Mobile: 47 4684 4959
meera.bhatia@telenor.com
LINK: | http://www.telenor.com/media/press-releases/2017/telenor-announces-pri... |
See more stories from telenor |
Most recent headlines
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
04/05/2024
Nielsen: Asian American Audiences Spend as Much Time on Mobile as TV
NEW YORK As the Asian Pacific American Heritage Month kicks off in May, Nielsen has released an extensive new report diving into their media habits with data sh...
04/05/2024
Comcast Makes $1M Commitment to Military-Serving Nonprofits
PHILADELPHIA As National Military Appreciation Month gets underway, Comcast has announced several new initiatives to help veterans, service members, and their f...
04/05/2024
FCC Unveils Agenda for May Open Meeting
WASHINGTON, D.C. Federal Communications Commission chairwoman Jessica Rosenworcel has announced a tentative agenda for the May Open Commission Meeting scheduled...
04/05/2024
Enhancements Made to Key 5G Convergence Standards
The Broadband Forum has announced major enhancements to key 5G convergence standards that the group said will help advance next-generation applications, improve...
04/05/2024
Spotify Wrapped Campaign Spot Graded With DaVinci Resolve Studio
Spotify Wrapped Campaign Spot Graded With DaVinci Resolve Studio Brie Clayton May 3, 2024 0 Comments Blackmagic Design today announced that Colorist M...
04/05/2024
Three Boston Conservatory at Berklee Alums Nominated for Tony Awards
Three Boston Conservatory at Berklee Alums Nominated for Tony Awards An additional eight alums and two current students performed in nominated productions. ...
03/05/2024
Sudan: New WhatsApp Course Equips Journalists to Report on Conflict Related Sexual Violence
An innovative learning tool to help media and civil society better understand ho...
03/05/2024
Slow Explores an Unusual Relationship With Sincere Romance
PARK CITY, UTAH - JANUARY 21: (L-R) Actors K stutis Cic nas and Greta Grinevi i t , Director Marija Kavtaradze and Producer Marija Razgute attend the 2023 Sunda...
03/05/2024
Be Honest With Your Art': Danny Ocean Reflects on Sudden Stardom and His Deeply Personal New Album
If you aren't familiar with Danny Ocean's music, it's only a matter ...
03/05/2024
Spotify and ELLE Collaborate in Celebration of Emerging Women in Music
Spotify has an unwavering commitment to supporting emerging artists across all genres, to helping them launch and thrive in their careers, and to connecting the...
03/05/2024
La Msica Mexicana no es solamente un fenmeno en Mxico y Estados Unidos, tambin en toda Amrica Latina
Como uno de los sonidos de mayor expansi n en el mundo, la M sica Mexicana va m ...
03/05/2024
Msica Mexicana Isn't Just a Phenomenon in Mexico and the U.S.-It's Taking Over Latin America.
As one of the fastest-growing sounds worldwide, M sica Mexicana is more than jus...
03/05/2024
Fubo Loses Subs in Q1 But Exceeds Guidance and Reduces Losses
NEW YORK FuboTV reported that it lost 110,000 subs in Q1 2024 but it exceeded its guidance for the quarter with double digit year-over-year increases across key...
03/05/2024
Only 3 Weeks Left To Enter The Creative Industries Most Award
Only 3 Weeks Left To Enter The Creative Industries Most Award Brie Clayton May 3, 2024 0 Comments Creativepool is giving a last call to the creative i...
03/05/2024
WePlay Studios Transforms the Future of Live Event Storytelling with AJA Gear
WePlay Studios Transforms the Future of Live Event Storytelling with AJA Gear Brie Clayton May 3, 2024 0 Comments By 2032, the esports market is expec...
03/05/2024
The Business of TV News: Shannon Bream Singles Out Key Issue in 2024 Election
WASHINGTON Shannon Bream, Fox News Sunday anchor and chief legal correspondent, sat for a keynote chat at The Business of TV News, with Tom Umstead, senior co...
03/05/2024
ABC News Anchor Martha Raddatz Says Local News Is Everything'
WASHINGTON Asked how important is local news, Martha Raddatz, who has covered foreign conflicts for decades and moderated presidential debates for ABC News, s...
03/05/2024
Paramount Stock Jumps on Report of $26 Billion Bid From Sony Pictures and Apollo Global
Sony Pictures and Apollo Global Management have made a $26 billion cash offer fo...
03/05/2024
CBS Shares 2024-2025 Schedule
CBS announced its 2024-2025 primetime schedule, which features the new dramas NCIS: Origins, Matlock and Watson, and new comedies Poppa's House and Georgie ...
03/05/2024
Fubo Continues To Reduce Red Ink Despite Losing 110,000 Subs in Q1
Sports-focused streaming service Fubo said it reduced its red ink in the first quarter, despite losing 110,000 subscribers since the end of the year....
03/05/2024
Walmart Ready to Release 4K Hybrid Streaming/Smart Speaker
Walmart is reportedly about to release a new 4K streaming box/smart speaker hybrid device for Google TV that could retail for as low as $50, according to a repo...
03/05/2024
Limecraft updates content delivery platform
Enhancements to its Delivery Workspace solution provide increased content delivery robustness and security By Matthew Corrigan Published: May 3, 2024 Enha...
03/05/2024
Sony and Apollo submit $26 billion bid for Paramount Global
According to reports, if the bid is successful, Sony would be the significant majority shareholder of the new private company By Jenny Priestley Published: M...
03/05/2024
Global Academy launches Manchester media school
Located in Manchesters Spinningfields district, the course aims to equip students with the skills, knowledge and industry insight for a career in the creative s...
03/05/2024
New Lightbridge C-Move Core
Lightbridge has created a new Cine Reflect Lighting System kit, dedicated to enabling artistic lighting with consideration of today's productivity practical...
03/05/2024
KPBS Modernizes Infrastructure With Major AES67 Control R...
Broadcast media systems integrator BeckTV and Lawo worked together on a large-scale AES67 build of radio control rooms at KPBS, San Diego's NPR and PBS memb...
03/05/2024
SmallHD Free PageOS 6 Update Adds Powerful New Capabiliti...
Raleigh, NC, April 12, 2024 SmallHD announces PageOS 6, a powerful software update free for owners of SmallHD monitors, featuring increased functionality, exp...
03/05/2024
SmallHD Launches Quantum 32 Quantum Dot OLED HDR Referenc...
SmallHD announces the Quantum 32 a new 31.5 OLED monitor designed to provide reference HDR/SDR images for post-production final color grading, as well as cri...
03/05/2024
How WePlay Studios is Transforming the Future of Live Eve...
By 2032, the esports market is expected to grow to $9.29 billion, bolstered by a global player count and fan following that both continue to climb. The 2023 Lea...
03/05/2024
Amagis Latest FAST Report Unveils the Rise of a Diverse G...
Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), today announced that the 11th edition of the Amagi Global FAST Rep...
03/05/2024
WDR Filmhaus to Implement Riedel Infrastructure
Riedel Communications today announced that Westdeutscher Rundfunk (WDR) is relying on a media and intercom network based on Riedel technology for the renewal of...
03/05/2024
TF1 Chooses Broadpeak to Power Targeted Advertising for N...
Broadpeak , a leading provider of content delivery network (CDN) and video streaming solutions for content providers and pay-TV operators worldwide, announced t...
03/05/2024
Limecraft Announces New Platform Update and Preview of MI...
Media technology innovator Limecraft will exhibit the latest updates to its online platform on stand G79 at the 15-16 May 2024 Media Production & Technology Sho...
03/05/2024
Prism Sound Announces Partners For 8 Hours At Rockfield 2...
Audio interface specialist Prism Sound is partnering with console manufacturer Solid State Logic, professional monitor manufacturer PMC and acoustic panel and d...
03/05/2024
Intinor brings excellence in contribution streaming to MP...
Intinor, Sweden's leading developer of products and solutions for high-quality video over the internet, is set to join forces with its UK partner Zest Techn...
03/05/2024
NAKIVO Reports 10 Percent Revenue Growth in EMEA Region
NAKIVO Inc., a fast-growing software company dedicated to protecting physical, virtual, cloud, and SaaS environments, announced its Q1 2024 financial results to...
03/05/2024
Hiltron Introduces Field-Upgradable Motorisation Kit for...
Hiltron Communications announces an addition to its range of satellite communication products and systems: a field-upgradable motorisation kit specifically desi...
03/05/2024
LiveU Showcases Story-Centric Workflows and the LiveU Eco...
Visit LiveU at Stand D30 With this year an exceptional one for major sporting events alongside multiple, key elections, the power and flexibility of LiveU'...
03/05/2024
Agile Content appoints Koldo Unanue as new CEO to boost t...
Agile Content, the leader in the development of technology and solutions for the provision of television services over the Internet, announces Koldo Unanue as i...
03/05/2024
Fubo, Dish, DirecTV & Others Urge Congress to Probe New Sports Streaming JV
Eight co-signers representing streaming services, pay TV operators and public interest groups have sent a letter to Congressional leaders urging their Committee...
03/05/2024
Brightcove Integrates AWS-Powered Generative AI Solution
BOSTON Brightcove has announced that it has implemented Amazon Q Business, a new generative AI assistant on Amazon Web Services (AWS)....
03/05/2024
CBS Claims 16th Straight Prime Time Viewing Title
NEW YORK CBS has declared that it will finish the 2023-24 season as Americas Most-Watched Network in primetime for the 16th consecutive season....
03/05/2024
Survey: U.S. Business and Consumers Plan to Increase Tech Spending
A new survey indicates that U.S. businesses and consumers had an overall positive attitude towards their technology spending plans in the first quarter of 2024,...
03/05/2024
Sony, Apollo Make $26B Bid for Paramount
Sony and Apollo Global Management have sent an offer letter to Paramount Global's board of directors making an $26 billion all cash offer for Paramount Glob...
03/05/2024
EMG / Gravity Media Grow Executive Team
EMG / Gravity Media has appointed Charlie Cubbon chief operating officer (COO) and Jamie Hindhaugh regional CEO for the U.K., U.S., Australia and the Middle Eas...
03/05/2024
WRAL-TV Brain Game Producer Randy Mews Wraps Season Taping Before Retirement
Final 2024 Season Games to Air Saturdays on WRAL at 10:30am in May, Championship on June 1 Taping for the final episodes of the 2024 season of WRAL-TV's Br...
03/05/2024
Estrella MediaCo Launches FAST Channels With Curiosity (NewFronts)
Estrella MediaCo said it is expanding its connected TV portfolio by launching three new channels with Curiosity that will first appear on Samsung TV Plus....