T-Mobile US Inc. announced on Monday a stock offering that could raise around USD2 billion for spectrum purchases.

The No. 4 mobile service provider in the US said that it would sell 66.15 million shares, accounting for 9% of its existing shares outstanding. According to Reuters, the fund that the deal could bring in can be used to purchase airaves to bolster its network capacity for wireless data services.

Based on T-Mobile's Monday closing share price of USD26.97, the deal could bring in USD1.96 billion and included an offer of 6.6 million extra shares allocated for underwriters.

The mobile service company said that it has 728.7 million shares outstanding, including German telecommunications company Deutsche Telekom's stake.

Meanwhile, in a Twitter statement quoted by Reuters, Deutsche Telekom said that its stake would be cut to 67% after the exit, but it will not be selling its shares. Deutsche Telekom owns a majority stake of 74% in T-Mobile.