Reuters: Regulatory News: UPDATE 1-Tim W.E. sees IPO priced at $5-$6/shr

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UPDATE 1-Tim W.E. sees IPO priced at $5-$6/shr Apr 26th 2012, 11:06 April 26 | Thu Apr 26, 2012 7:06am EDT April 26 (Reuters) - Portuguese mobile marketing and payment services provider TIM W.E. SGPS S.A. said it expects to price its initial public offering of 13.7 million shares between $5 to $6 per share. The company, which had filed with U.S. regulators last year to raise up to $181.1 million, said it plans to sell 11.9 million shares, while shareholders will sell an additional 1.8 million shares. The company plans to use the proceeds to enter newer markets including Africa and Asia and to buy firms with technology in mobile marketing and payment services segments. Credit Suisse and Citigroup are the lead underwriters of the offering, TIM W.E. said in a regulatory filing. The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different.

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