13 Jun 2016 09:30
Kcell signs a credit line agreement with Subsidiary Bank Alfa Bank JSC
Almaty, 13 June 2016 - Kcell Joint Stock Company (LSE, KASE: KCEL) ("Kcell" or the "Company") (LSE, KASE: KCEL), the leading provider of mobile telecommunications services in Kazakhstan by market share in terms of revenue and subscribers, announces that it has entered into a credit line agreement with Subsidiary Bank Alfa Bank JSC for KZT 10 billion for the purpose of financing its working capital. The Company obtained the first tranche of KZT 6 billion of the approved credit line on 8 June 2016. The tranche/equity ratio stands at 6.89%, while the credit line/equity ratio is 11.48%.
Contacts
| |
Investor Relations | |
Irina Shol | Tel: +7 727 2582755, ext. 1002 Investor_relations@kcell.kz |
Media Natalia Eskova |
Tel: +7 727 2582755, ext. 1902 Pressa@kcell.kz |
International Media | |
Instinctif Partners Kay Larsen, Galyna Kulachek, Adrian Duffield | Tel: +44 207 457 2020 |
Company Overview
Kcell provides mobile voice telecommunications services, messaging services, value-added services such as multimedia and mobile content services, as well as data transmission services including internet access. It has two brands: the Kcell brand, which is targeted primarily at corporate subscribers (including government subscribers), and the Activ brand, which is targeted primarily at mass market subscribers. The Company offers its services through its extensive, high quality network which covers substantially all of the populated territory of Kazakhstan.
In December 2012, Kcell successfully completed its offering of GDR's on the London Stock Exchange and common shares on KASE. The price was set at USD 10.50 per GDR and KZT 1,578.68 per share with each GDR representing one share. The offering consisted of a sale by TeliaSonera of 50 million shares, which represent 25 percent of Kcell's share capital.
Kcell plans to benefit from the significant growth potential for mobile data services in Kazakhstan. The Company intends to continue to invest in the deployment of its 3G network to expand coverage and to introduce high quality 4G services in due course. Kcell aims to maintain its market leadership in terms of revenue and the number of subscribers by offering its products and services at competitive prices, expanding its offering of products and services, maintaining the high quality of its network and enhancing its brand value.
KCEL.L (KCEL)