Smithfield Financial is to handle the flotation on the Amsterdam
stock exchange of KPN Mobile, a wholly-owned subsidiary of Dutch
telecoms group KPN.
The deal is the largest IPO currently taking place in Europe. KPN Mobile
is expected to have a market capitalisation of pounds 25 billion, and is
likely to seek other listings.
Smithfield will work on international media relations, office structure
and the retail network for the client, which has eight million
subscribers, mainly in the Netherlands and Germany. Although KPN has
been in the mobile phone business since 1994, KPN Mobile was only set up
Smithfield will work closely with ABN Amro Rothschild and JP Morgan, the
two investment banks handling the flotation, which is planned to take
place before July.
Smithfield director Andrew Hey will lead the account, reporting to KPN
Mobile CEO Diederik Karsten. Hey set up Smithfield’s international IPO
practice after leaving Citigate Dewe Rogerson 18 months ago.
’We have established our credentials with investment banks,’ he
There are another six IPOs or share offerings on the go, he claimed.
Hey also claimed the agency was working on six further IPOs or share
offerings and was looking to add staff to its core IPO team of six.
- Smithfield is also handling international media relations and investor
relations for the IPO of New Skies Satellites (NSS), due to float in the
next two months. Part of Intelsat, the inter-governmental satellite
provider, NSS was launched in 1998 as a precursor to the eventual
privatisation of Intelsat as a whole. NSS is involved in the internet
and data convergence as well as satellite technology, and has offices in
the Hague, London, Sao Paulo and Washington.