Ziggo sets IPO price at top end of range; aims to raise USD1.06bn

21 Mar 2012

Dutch cableco Ziggo (Zesko Holding) has set the price of its initial public offering (IPO) at EUR18.50 (USD24.47) per share – the top end of the range – in what looks set to be one of the largest listings in Europe in the past twelve months. The announcement, which comes just a day after Swiss trade and services company DKSH raised USD1.09 billion through its own IPO, is being seen as a sign of renewed confidence in Europe’s equity markets after months of volatility stemming from the eurozone crisis. Ziggo confirms it has received high levels of interest from investors – a source close to The Financial Times claims the shares have been 15 times oversubscribed – as it looks to sell off 21.7% of its total 200 million shares, raising EUR804 million (USD1.06 billion). The initial offering will allow Ziggo’s owners Warburg Pincus and Cinven to realise a profit from the investment they made when they snapped up three smaller cablecos – Casema, Multikabel and Essent Kabelcom – in 2006 and merged them to form Ziggo.

Netherlands,

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share