Com Hem IPO in Stockholm to raise USD833m

23 May 2014

Sweden’s largest cableco Com Hem confirmed today that it plans to list its shares on the Stockholm stock market, aiming to raise around SEK5.5 billion (USD833 million). As reported by the Wall Street Journal (WSJ) the initial public offering (IPO) on the Swedish NASDAQ OMX exchange will primarily consist of new ordinary shares issued by the company, with the sale of existing shares by its main shareholder – UK-based private equity firm BC Partners via holding company NorCell – also a possibility. ‘Becoming a public company is a natural next step for Com Hem as it will broaden its shareholder base, provide financial flexibility by reducing leverage and enhance the company’s growth prospects,’ the WSJ quoted Nikos Stathopoulos, managing partner at BC Partners, as saying. JP Morgan and Nordea are acting as joint global coordinators and joint bookrunners, while Carnegie is joint bookrunner and Rothschild is financial adviser to Com Hem and BC Partners.

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