Vodafone’s Vantage Towers (VTWR) had a successful debut, the largest in Germany since 2018, on the Frankfurt Stock Exchange on Thursday, their shares soaring 4.8% from 24 euros, the offer price. The stock price ranged between 22.5 and 29 euros. Vodaphone is posed to earn 2.3 billion euros ($2.8 billion) from Vantage Towers, being valued at 12.1 billion euros from the initial public offering – these proceeds will be used to cut Vodaphone’s debt of 69 billion euros, according to Reuters.
- Many telecom companies choose to run joint ventures with independent companies to keep a portion of potential future growth rather than selling towers.
- Upgrading them to the 5G standard between 2020 and 2025 will cost $890 billion.
- VTWR runs 82,000 towers in 10 countries as either the leading or second-largest operator, Germany being its largest market.
- Digital Colony, an infrastructure investor and operator, and the RRJ global equity fund based in Singapore will invest 950 million euros in shares.
- Among VTWR’s underwriters are Morgan Stanley, UBS, Bank of America, as well as Goldman Sachs, Barclays, BNP Paribas, Berenberg, Deutsche Bank, and Jefferies.