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Kabel Deutschland sets IPO share price range Thursday 11 March 2010 | 09:24 AM CET
 
German cable network operator Kabel Deutschland and the shareholders exiting the company have decided to set the share price for the IPO between EUR 21.50 and EUR 25.50. The total number of shares being sold on the market amounts to 30 million, plus up to 4.5 million additional shares for the over-allotment option granted to the underwriters (combined with a greenshoe option). The offer period begins on 11 March and is expected to end on 19 March. The offered shares are 15 million less than Kabel Deutschland reported in its IPO brochure on 8 March, and all existing shareholders, private equity investor Providence, a Canadian pension fund and Kabel Deutschland's management, will put shares on the market. The proceeds of the IPO will go directly to the shareholders. The share price range values the company between EUR 1.9 billion and EUR 2.3 billion.
More: Fixed | Germany
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