Norwegian telecom holding Telenor plans to offer 142.5 million Vimpelcom Ltd ADS on the market, Vimpelcom said in a press release.

The offering amounts to 8.11% of Vimpelcom share capital and 24.54% of Telenor's stake (totaling 580,578,840 shares).

Vimpelcom does not specify the trading floor where the shares will be offered. Morgan Stanley and J.P. Morgan will act as joint global coordinators and joint bookrunners and Citigroup and Credit Suisse will act as joint bookrunners for the offering.

Before pricing of the ADS offering, Telenor may also launch a three-year bond exchangeable into Vimpelcom ADSs totaling up to $1 billion, with an exchange premium that could be up to 35%, Vimpelcom said.