Mobile phone operator Play seeks $1.4 billion in Warsaw IPO

Play Communications, the owner of Poland’s second largest cellular network operator Play, plans to raise up to five.2 billion zlotys ($1.40 billion) in a preliminary public offering (IPO) in Warsaw, it said on Monday.

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The flotation could be the biggest in Warsaw due to the fact 2011, in keeping with Warsaw Stock Exchange records.

The cellular operator, owned by means of Greek fund Tollerton and Icelandic investor Novator, will promote up to 121,572,621 existing shares, or forty eight.6 percentage of its total fairness, along with the over-allotment alternative. The corporation will no longer problem new shares.

Play stated that a maximum price has been set at forty-four zlotys in line with a share for retail and institutional investors, but authorized employees might be entitled to shop for the shares for up to 37.4 zlotys.

Play stated its implied market capitalization based totally on the maximum fee might be round 11.2 billion zlotys, with analysts betting it’d make it to the WIG20 index, comprising the 20 biggest and most liquid companies indexed in Warsaw.

Play specifically competes towards the Polish cell community running palms of Deutsche Telekom and France’s Orange.

The enterprise has hired J.P. Morgan, BofA Merrill Lynch and UBS Investment Bank as worldwide coordinators, in addition to Bank Zachodni WBK and DM PKO BP as co-presenting and ebook building co-managers.

 

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Institutional book building starts on Monday and is anticipated to shut on July 13 whilst the very last pricing may be introduced. Play expects to debut on the Warsaw trade on July 27.

Part of the IPO proceeds may be used to redeem 500 million euros bonds due in 2022 issued through Play’s parent company. It additionally plans to pay a dividend of 650 million zlotys next yr.

“With the IPO we’ve got a very good platform to raise financing in future if vital,” Play Chief Executive Jorgen Bang-Jensen informed a news convention.

The Delhi Metro Rail Corp (DMRC) has launched a cashless token sale/clever card recharge offerings that allow you to use the Bharat Quick Response (QR) code displayed on the token counters and consumer care centers of metro stations.

Delhi Metro commuters will now be able to shop for token and recharge their smart playing cards thru their cellular banking application in line with the DMRC respectable declaration.

The passenger could need to select ‘pay via QR’ alternative inside the app and then scan the QR code displayed on the price ticket counter through Smartphone camera. Then they could choose the desired fare and pay thru the web banking manner using the bank cell utility. This provider can be availed through any mobile bank software.

Currently, this facility has been made to be had at 5 metro stations – Rajiv Chowk, Rajendra Place, Seelampur, Pitampura and Nehru Place, and would be added subsequently in a phased manner in all metro stations.

Speaking at the launch, DMRC Managing Director Mangu Singh stated:
The DMRC is making all efforts to push the cashless mode of transaction initiated by the government. This new cashless facility is anticipated to provide the commuters a greater handy and speedy access to the Delhi Metro network except supporting in handling the trouble of exchange/coins on the stations.

The Bharat QR Code turned into lately released through the authorities to promote cashless transactions in India. This code is evolved with the bar code test mechanism to get related with every financial institution and is well suited to encrypt the bank’s information (service provider name and account number) required for the fee.

Originally posted 2017-07-04 03:03:12.

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