Euskaltel IPO four times oversubscribed

News General Spain 30 JUN 2015
Euskaltel IPO four times oversubscribed
Spanish regional cable operator Euskaltel, operating in the Basque Country, has announced that its IPO attracted strong market interest from institutional investors and was four times oversubscribed. In a statement to Spain's market regulator CNMV, the operator confirmed its final price of EUR 9.50 per share, valuing the company at EUR 1.2 billion. Euskaltel's shares are expected to begin trading on the Spanish stock exchanges in Barcelona, Bilbao, Madrid and Valencia on 01 July. The company is owned by Basque bank Kutxabank, Spanish utility Iberdrola and investment funds Trilantic and Investindustrial. It posted revenues of EUR 315.1 million in 2014.

Categories:

General

Companies:

Euskaltel

Countries:

Spain

Tags:

Financial funding

Related Articles

SPAIN 18 AUG 2021

Euskaltel delisted following Masmovil takeover

Spain's National Securities Market Commission (CNMV) has formally suspended the listing of regional operator Euskaltel, the country's fifth largest telecommunications provider, following the closure of its takeover by Masmovil earlier this month. Euskaltel's shares have been suspended at Masmovil's request just over 6 years after the company went public on 01 July 2015 at a price of EUR 9.50 per share. 

SPAIN 27 OKT 2016

Euskaltel to pay out EUR 23 mln in dividends in February

Spanish regional operator Euskaltel has announced that it will pay out EUR 22.7 million in dividends in February 2017, its first payout since last year's IPO and the acquisition of Galician cable provider R. In a statement to Spanish market regulator CNMV, the company said it would pay a dividend of EUR 0.15 per share on 01 February thanks to a substantial improvement in its debt ratio. The operator reported revenues of EUR 286.0 million in the first six months of 2016, up 76.9 percent year on year due abov

SPAIN 30 NOV 2015

Euskaltel closes EUR 1.19 bln buy of Galician operator R

Spanish regional cable operator Euskaltel, operating in the Basque Country, has finalised the acquisition of Galician cable provider R for a total of EUR 1.19 billion after receiving approval by shareholders and the relevant competition authorities. Euskaltel said the combined entity will have over 715,000 residential and business customers and the companies will continue to operate under their original brands in their respective regions in northern Spain. "The merger of the two companies will allow us to g

SPAIN 24 NOV 2015

Euskaltel places 25.3 mln shares to fund R purchase

Spanish regional cable operator Euskaltel, operating in the Basque Country, has announced the launch of a share issue to help fund its EUR 1.19 billion acquisition of Galician cable provider R. In a statement to Spanish market watchdog CNMV, Euskaltel said it would place 25.31 million shares at a price of EUR 10.08 per share via an accelerated book-building offer. In total, the share issue would be worth EUR 255 million, said Euskaltel, adding that the new shares will be admitted in the Bilbao, Barcelona, M

SPAIN 29 OKT 2015

Euskaltel reports EUR 3 mln Q3 loss on R buy and IPO costs

Spanish regional cable operator Euskaltel, operating in the Basque Country, reported a EUR 3.3 million loss in the third quarter due to the impact of costs relating to its takeover of Galician cable provider R and its recent IPO. Euskaltel added that without these "exceptional and non-recurring" costs its third quarter net profit would have been around EUR 36 million, an improvement on the year-earlier result of EUR 25.6 million. Third quarter revenues came to EUR 244 million, compared to EUR 239 million a

SPAIN 8 OKT 2015

Euskaltel launches 4G on selected tariffs

Spanish regional cable operator Euskaltel, operating in the Basque Country, is set to launch its 4G service on 09 October, but only on selected tariffs. The operator's move comes after it reached an agreement with Orange Spain earlier this year to launch 4G services on the latter's network. Customers will be able to surf at 4G speeds by subscribing to the TP Unlimited 1GB or 3GB plans, complete with unlimited calls, for EUR 25.90 and EUR 30.90 per month respectively. The 4G service is also available on the

SPAIN 5 OKT 2015

Euskaltel increases prices, offers more mobile data

Spanish regional cable operator Euskaltel, operating in the Basque Country, has followed the trend set by the majority of the country's operators by increasing the price of some of its plans in exchange for improved services, generally more monthly data. Euskaltel's popular Redonda 1 GB tariff now costs a minimum of EUR 13.90 per month, EUR 2 than before, but now comes with 1.5 GB data. The Family tariff has also gone up, with the first mobile line costing EUR 25, compared to EUR 23.90 previously, and addit

SPAIN 1 OKT 2015

Euskaltel targeting Telecable following R buy - report

Spanish regional cable operator Euskaltel, operating in the Basque Country, is considering the possibility of acquiring rival broadband operator Telecable, according to a report in business daily Expansion. The consolidation of the Spanish telecommunications market, with Orange recently completing its takeover of Jazztel and Vodafone merging with Ono, has meant Spain's smaller regional operators need volume to survive. Euskaltel recently agreed to purchase rival cable provider R, operating in Galicia, for E

SPAIN 27 JUL 2015

Zegona acquires Spain's Telecable for EUR 640 mln

Zegona, an investment vehicle set up by former Virgin Media finance director Eamonn O'Hare, has reached an agreement to acquire Spanish regional broadband operator Telecable from Carlyle Group and Liberbank for an enterprise value of EUR 640 million. In a statement Zegona said it expected to close the deal by mid-August and that it would fund the acquisition with a combination of GBP 251 million of new equity, backed by institutional investors, funds from its recent float and a new debt facility arranged by

SPAIN 24 JUL 2015

Euskaltel to buy regional operator R for EUR 1.16 bln

The consolidation of the Spanish telecommunications market shows no sign of abating with regional cable operator Euskaltel, operating in the Basque Country, agreeing to purchase rival cable provider R, operating in Galicia, for EUR 1.16 billion. In a statement outlining the terms of the deal, Euskaltel said it offered R's shareholders cash and new shares valued at 10.9 times the company's EBITDA. The deal means CVC Capital Partners, which had a 70 percent stake in R, will become one of Euskaltel's leading s

SPAIN 14 JUL 2015

Euskaltel to increase call setup fee to EUR 0.24

Spanish regional cable operator Euskaltel, operating in the Basque Country, will increase call setup and SMS fees charged to prepay and pay per minute postpay users to EUR 0.24 from EUR 0.18. In an email sent to subscribers of the corresponding plans, the operator said the price hike would be applied starting next month. The company's decision appears to be designed to encourage users to switch to unlimited call plans and follows similar price hikes from many of Spain's operators in exchange for improved se

SPAIN 30 JUN 2015

Euskaltel prices IPO at EUR 9.50 per share - report

Spanish regional cable operator Euskaltel, operating in the Basque Country, will set a final price of EUR 9.50 per share in its IPO of a maximum 69.9 percent of its share capital, reports Europa Press, citing market sources. At that price, the company's value would be in the region of EUR 1.202 billion. Euskaltel had previously set a price range of EUR 8.7 to 11.05 per share. Spain's market regulator CNMV is set to confirm the share price on 30 June and Euskaltel shares should start trading on the Madrid st

SPAIN 22 JUN 2015

Euskaltel valued at EUR 1.1-1.4 bln in IPO

Spanish regional cable operator Euskaltel, operating in the Basque Country, has set a price range of EUR 8.70 to EUR 11.05 per share for the forthcoming IPO of a maximum 69.9 percent of its share capital, valuing the company at around EUR 1.1 billion to 1.4 billion. Spain's market regulator CNMV has approved the accompanying prospectus and, if all goes to plan, Euskaltel shares should start trading on the Madrid stock exchange on 01 July.

SPAIN 17 JUN 2015

Euskaltel offers free mobile tariffs over summer months

Spanish regional cable operator Euskaltel, operating in the Basque Country, has launched a seasonal promotion offering new users up to three months of free mobile tariffs. Under the promotion, new users porting their number to the operator by 31 July won't have to pay the corresponding tariff until October as long as they sign up to a 12-month contract. Tariffs included in the promotion include TP 120, with 120 minutes of calls and 500MB of data for EUR 13.90 per month, TP 1000, with 1,000 minutes of calls

SPAIN 8 JUN 2015

Euskaltel, Orange Spain reach 4G deal - report

Spanish regional cable operator Euskaltel, operating in the Basque Country, has reached an agreement with Orange Spain to launch 4G services on the latter's network, reports El Correo. Although no details have emerged about the launch date for Euskaltel's 4G service or whether customers will need to change their SIM cards, the deal has been reached a few days after Euskaltel announced plans to list its shares on the Madrid stock exchange later this year, probably as early as July.

Just In

20 DEC 15:08

Dialog Axiata to offer Starlink satellite service across Sri Lanka

20 DEC 14:51

Sri Lanka raises LKR 10 billion in 5G spectrum auction

20 DEC 14:00

Vi introduces Niyo Zero Forex Markup Card for travelers

20 DEC 13:39

True reshuffles executive team

Commentary

15 DEC 13:56

Video market set for slower growth ahead

8 DEC 11:38

Netflix buys Warner Bros to deepen content catalogue

31 OKT 11:11

KPN's mixed performance in Q3 raises questions for strategy day

27 OKT 15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

15 DEC 01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

8 DEC 01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

20 NOV 13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

18 NOV 14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.