Cellcom files for US IPO

18 Jan 2007

Israeli wireless operator Cellcom has filed US regulatory documents for an initial public offering (IPO) of common stock writes Reuters. The company said stockholders will sell about 19 million shares for between USD16 and USD18 per share. The underwriters are Goldman Sachs & Co., Citigroup, Deutsche Bank Securities, Merrill Lynch & Co, Jefferies & Company and William Blair & Company. They will have the option to buy an extra 2.9 million shares from selling shareholders if there is heavy demand for the IPO. Among the selling stockholders is Goldman Sachs, which will sell 1% of the company to lower its stake to 4%.

Israel, Cellcom