Oger Telecom is a leading provider of telecommunications services in Turkey and South Africa operating fixed-line, mobile communications and Internet access businesses. The Company also operates ISPs in Saudi Arabia, Lebanon and Jordan.
• Expected offering size of US$1.25 billion to institutional investors, in the form of shares and GDRs. As part of the Offering the Company intends to raise US$150 million of primary proceeds
• The Offer price range will be US$1.15 to US$1.42 per share and US$11.50 to US$14.20 per GDR, with each GDR representing 10 shares. At the mid point of the range, the Company would have a market capitalisation of US$5.7 billion
• The Saudi Oger Group expects to retain a shareholding in excess of 40% in Oger Telecom
• Oger Telecom intends to use its proceeds from the Offering for business development, including funding of capital expenditure, working capital needs and other funding obligations of its subsidiaries as well as general corporate purposes
• ABN AMRO and Citigroup are Joint Global Coordinators and Joint Bookrunners for the Offering
• The roadshow and bookbuilding begin on 8 November
Mohammed Hariri, Chairman of Oger Telecom, commented:
“This is a significant landmark in the history of Oger Telecom and we are delighted to be able to offer potential investors the opportunity to participate in the long-term success of our Company.”
Dr. Paul Doany, Chief Executive Officer of Oger Telecom, added:
“Today’s announcement is the next logical step for the Group as we now focus our efforts on developing and expanding our existing operations. We have a number of exciting growth opportunities in the telecommunications markets in which we operate and we look to the future with confidence.”
Wednesday, November 8- 2006 @ 13:51 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.