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(Adds revised market capitalisation, Vodafone shares)
BERLIN, March 16 (Reuters) - Vodafone Group's
infrastructure unit Vantage Towers has covered the books on its
initial public offering of shares in Frankfurt at a revised
price range of 24 to 25 euros per share, a bookrunner on the
deal said on Tuesday.
The revised range implies a total market capitalisation for
Vantage of 12.2 billion-12.7 billion euros ($14.5 billion-15.1
billion), according to Reuters calculations.
Books will close on the offering at 1300 GMT on Wednesday,
the bookrunner said, ahead of Vantage's debut on the Frankfurt
Stock Exchange on Thursday.
The UK-based operator initially set the range for the
Vantage flotation at 22.50 to 29 euros per share.
Proceeds from the offering of existing shares will accrue to
Vodafone, leaving Vantage with a free float of 19.1% from a base
offering, rising to 24.6% should an increased offer be placed.
Shares in Vodafone were trading up 0.4% at 133.7 pence in
early trade on Tuesday.
($1 = 0.8390 euros)
(Reporting by Douglas Busvine and Paul Sandle; Editing by Maria
Sheahan and Susan Fenton)
