VimpelCom Announces Offering Of ADSs By Selling Shareholder Telenor

(RTTNews) - VimpelCom Ltd. (VIP) announced the commencement of an offering by selling shareholder Telenor East Holding II AS of 142.5 million ADSs, each representing one common share of VimpelCom. Before pricing of the ADS offering, Telenor may also launch a 3-year bond exchangeable into VimpelCom ADSs in an aggregate principal amount of up to $1 billion with an exchange premium which could be up to 35 percent. The exchangeable bond will be launched outside the U.S. to non-US persons.

VimpelCom noted that the company will not receive any proceeds from the sale of the ADSs by Telenor, and Telenor's sale of the ADSs will not result in dilution of the company's issued and outstanding shares.