TeliaSonera receives $525m from Kcell IPO

Swedish telecommunications company TeliaSonera AB said Wednesday that it will receive $525 million from the initial public offering of Kazakh mobile operator Kcell JSC in the U.K. and Kazakhstan.

TeliaSonera offered 25% of its stake in the company and will hold 61.9% after the offering.

Kcell priced the IPO at $10.50 for each