April 12 (SeeNews) - State-controlled Telekom Srbija plans to issue a 500 million euro ($543 million) bond on the stock exchange in Luxembourg or Frankfurt, CEO Vladimir Lucic said on Tuesday.
"Everything necessary for Telekom Srbija to go public will be completed at the beginning of May, and the exact month in which we will do it will depend on the assessment of when the stock exchange will work best in the context of the crisis in Ukraine," Lucic said in a video file posted on the website of Tanjug news agency.
Demand will most likely exceed the 500 million euro limit that Telekom Srbija aims to borrow through its first bond issue on European markets, but the company simply does not need more, Lucic said.
"We will invest that money in the further development of our optical infrastructure, mobile network and in the expansion of Telekom Srbija," he noted.
Telekom Srbija recorded a profit of 13.1 billion dinars ($121.3 million/111.2 million euro) in 2021, backed by a substantial rise in revenue, Lucic said on Monday.
Telekom Srbija provides a range of services to over 11 million users through its units in Serbia, Bosnia and Herzegovina, Montenegro and Austria. In November 2021, the company launched operations in North Macedonia.
($ = 0.921281 euro)
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