TDC Announces that Belgacom Launches IPO
March 03 2004 - 12:53AM
PR Newswire (US)
TDC Announces that Belgacom Launches IPO COPENHAGEN, Denmark, March
3 /PRNewswire-FirstCall/ -- Belgacom, the leading
telecommunications company in Belgium, and ADSB Telecommunications
B.V. today announce details of the initial public offering of
shares of Belgacom and the listing of all Belgacom shares on
Euronext Brussels before the end of March 2004, subject to market
conditions. The shares in the offering are being offered by ADSB
Telecommunications B.V., a consortium that, at the time of closing
of the offering, will be owned by SBC Communications Inc., TDC A/S
and Singapore Telecommunications Limited. ADSB intends to offer up
to all of the Belgacom shares held by it at the time of closing of
the offering (other than the shares over which it will grant an
over-allotment option to the underwriters in the offering). The
price range and the maximum offering price for retail investors, as
well as other details of the offering are expected to be published
in the Belgian financial press at the latest on 8 March, when the
offering period is expected to commence. The final offering price
is expected to be published in the Belgian financial press at the
latest on 22 March with trading starting on Euronext Brussels the
same day on a "when delivered basis." Commenting on the
announcement, Lloyd Kelley, Chairman of ADSB, said: "After eight
years of successful cooperation between ADSB and Belgacom, we look
forward to the initial public offering of Belgacom as the next
stage in the Company's development and as a means for ADSB to
monetise its ownership position. We are confident that the IPO will
be a success for the Company." Commenting on the announcement,
Henning Dyremose, President and CEO of TDC says: "We are satisfied
with a constructive and efficient process since October 2, 2003,
when the agreement between the Belgian Government, Belgacom and
ADSB regarding the preparation of a potential IPO of ADSB's
Belgacom shares were announced and which now results in the launch
of the IPO." For further details please refer to Belgacom's press
release or contact TDC Investor Relations at +45 3343 7681. Web
Site: http://www.tdc.com DATASOURCE: TDC A/S CONTACT: TDC Investor
Relations, +45-3343-7681, for TDC A/S
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