TELESTE CORPORATIONSTOCK EXCHANGE RELEASE 01.03.1999 AT 13.15 1(1)
TELESTE CORPORATION'S LISTING IN HELSINKI EXCHANGES
Teleste announced in December 1998 that it started study of the
possibilities of listing its shares on Helsinki Exchanges. The
preparations have proceeded according to the plans and the company
targets to file the application for listing during March.
The expansion in ownership, that is prerequisite for listing, is
planned to be done through a share offering to the public and to
institutional investors in Finland and internationally as well as
through a share issue to company's employees. The target for the
company and the main shareholder is to launch the offering and new
issue in the second half of March, providing that the market
conditions remain stable.
The preliminary plan is to offer to the public and both Finnish and
international investors about 50 % to 70 % of the capital stock of the
company. Enskilda Securities acts as lead manager of the offering, co-
lead managers of the transaction are Credit Lyonnais and Opstock, who
is responsible for the Finnish public offering.
Teleste is an international technology group founded in 1954, which is
specialized in broadband data communication and multimedia
environments for language learning. All divisions are among the
leading companies in their businesses.
For further information:
CEO Timo Toivila, tel. +358 2 2605 866 or +358 400 630 484
Internet: This release can be found from Teleste's home pages