Tele Columbus sets IPO price range

News Broadband Germany 13 JAN 2015
Tele Columbus sets IPO price range

German cable operator Tele Columbus has set a price range of EUR 8-12 per share for its initial public offering of shares. The company is offering 37.5 million new shares and existing shareholders (mainly management) are selling 15.3 million shares. In addition, an over-allotment of 3.75 million more shares is available if demand warrants. If this is exercised, the company could raise a total EUR 452.4 million at the bottom of the price range and EUR 678.6 million at the top of the range. At the midpoint of the range, the company would have a market capitalisation of EUR 530 million. The offer period runs 13-21 January, and the shares are expected to start trading in Frankfurt 23 January. 

Tele Columbus said it will use the proceeds to reduce debt to around 3-4 times adjusted EBITDA. It also plans to invest in upgrading its network and connecting more homes to the network. Over the medium term, the company aims to increase the number of products per customer from 1.43 currently to 1.7, grow the monthly average revenue per customer from EUR 14.0 to EUR 17.0 and increase the share of upgraded households from 54 to 70 percent.  

Categories:

Fixed

Companies:

Tele Columbus

Countries:

Germany

Tags:

Cable - Docsis, Financial funding

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