Kazakhstan’s largest mobile operator, Kcell, expects its IPO to raise between $525 and $650 million when it floats 25% of its shares next month.
The operator is hoping for strong investor interest after a disappointing debut listing from Russian operator MegaFon this week.
The London and Almaty listing has a price range of $10.50 to $13.00 per global depositary receipt indicating a lower value than when TeliaSonera paid $1.52 billion for a 49% stake in Kcell in February.
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