Proximus Group completes sell-down of Route Mobile shares to comply with the minimum public holding requirement, attracting strong interest from long-only funds
On September 13, 2024, Proximus Group, through its subsidiary Proximus Opal, has successfully completed the divestment of a 6.03% stake in Route Mobile through an Offer for Sale (OFS), which was oversubscribed and received strong participation from large long-only investors.
This transaction follows the earlier 1.95% sell down that was completed on 26 July 2024. After both transactions, Proximus Opal has reduced its holding in Route Mobile to below 75% in compliance with the minimum public shareholding criteria, in accordance with the regulatory guidelines set by the Securities and Exchange Board of India (SEBI).
With an average price per share of INR 1,662.20 across both equity transactions, this operations delivers gross proceeds of around EUR 90 million for Proximus Opal and results in a final ownership in Route Mobile of 74.90%.
