Slovak Telekom plans IPO of 49% stake

09 April 2015 |


Slovak Telekom is set to list on the Bratislava and London stock exchanges in a sale that could raise as much as €1 billion.

The Slovak government will sell its entire 49% stake while Deutsche Telekom will retain its remaining 51%. Shares will be offered at a 5% discount to Slovak retail investors who submit their bids early. 

The country’s Economy Ministry said last week that it aims to hold an IPO by the end of June. The government’s 2015 budget plans have predicted the sale to generate approximately €1 billion, which it intends to use to cut state debt.

Miroslav Majoroš, CEO of Slovak Telekom, said the IPO marks an important next step in the company’s development. 

“By integrating services across our own fixed and mobile networks, we have transformed Slovak Telekom into one of Central Europe's most exciting telecommunications companies and Slovakia's only truly integrated quad-play provider,” said Majoroš. 

“Through significant capital investment, improved efficiency and enhanced capability we now have an integrated offering enabling us to deliver higher value services and premium content through triple and quad-play bundles.”

Slovak Telekom has 1.16 million fixed-line subscribers, including voice, broadband and pay TV accesses, and 2.2 million mobile customers. In 2014, it reported sales of €767.6 million, down 5% from the previous year.  

Citigroup and JP Morgan are acting as joint global coordinators and joint bookrunners and Erste Group and Wood & Co. are acting as joint lead managers.