By Stuart Condie

SYDNEY--TPG Telecom priced the US$450 million reinvestment plan with which Australia's third-largest mobile operator aims to pay down debt and boost its free-float liquidity.

The operator of the Vodafone Australia brand on Monday said it would raise up to 550 million Australian dollars, equivalent to US$359.5 million, from institutional investors through the offer of new shares priced at A$3.61 each.

That represents a 5% discount to the stock's last close of A$3.80.

It also aims to raise up to A$138 million from retail investors through the offer of stock at the lower of A$3.61 or a 5% discount to the volume-weighted average price over the five days through the plan's Dec. 5 close.

The non-underwritten plan, which TPG announced in August, allows shareholders to reinvest their share of a A$3.0 billion capital distribution funded by the operator's sale of its fixed-network assets.

TPG Telecom reconfirmed full-year guidance for earnings before interest, tax, depreciation and amortization of between A$1.605 billion and A$1.655 billion, on a pro-forma basis. That compares with A$1.60 billion in 2024's restated results, and A$1.51 billion in 2023.

It cut its capital-expenditure guidance for the 12 months through December to A$770 million from A$790 million, on the deferral of costs related to plans to develop low-earth-orbit satellite ground stations.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

November 16, 2025 17:26 ET (22:26 GMT)

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