Finnish full-service telecoms operator DNA has announced its intention to launch an initial public offering (IPO) and list its shares on Nasdaq Helsinki (‘Helsinki Stock Exchange’) to widen its investor base and support further development of its 4G mobile, fixed broadband, cable TV and B2B networks. A statement on the company’s website says that the contemplated IPO is expected to consist of a secondary share sale by the largest existing shareholders, Finda and PHP Holding, as well as a number of smaller shareholders. In addition, DNA is considering a primary equity offering of approximately EUR50 million (EUR54.5 million) in connection with the contemplated IPO, including a potential personnel offering. Shares are expected to be offered to private individuals and entities in Finland, permanent employees of DNA and institutional investors in Finland and internationally. The company, certain members of its management and certain existing shareholders would be subject to customary lock-up arrangements in connection with the IPO.
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