Telenet, the largest cable operator in Belgium, has raised EUR985 million through an initial public offering (IPO) in which it sold shares at EUR21 each, at the bottom of the range used to market the IPO. The sale valued the company at EUR2.1 billion; Telenet had been seeking a market value of up to EUR2.5 billion in a move to raise money to reduce debt and fund growth. The stock started trading in Brussels yesterday.
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