Milbank LLP advised the underwriters, including Rand Merchant Bank (a division of FirstRand Bank Limited), Investec Bank Limited and Morgan Stanley & Co. International plc, in connection with the initial public offering and Johannesburg Stock Exchange listing of Cell C Holdings Limited. Cell C’s shares priced at ZAR26.50 valuing Cell C at approximately ZAR9 billion.
Cell C is the leading enabler of mobile virtual network enablers and mobile virtual network operators in South Africa, with a diversified business model across retail and wholesale, and a national dual Multi-Operator Core Network strategy providing access to over 28,000 sites and more than 98.7% population coverage.
The Milbank team was led by Corporate Finance and Securities partner David Dixter and associate Russell Feinman.
