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Broadband

Ziggo to proceed with IPO

Wednesday 29 February 2012 | 09:07 CET | News
Dutch cable operator Ziggo said it will proceed with an initial public offering (IPO) on NYSE Euronext in Amsterdam. JP Morgan and Morgan Stanley will coordinate the IPO. Ziggo said the IPO will consist of shares held by its owners, the private equity firms Cinven and Warburg Pincus. As part of the IPO, the shareholders will convert loans of EUR 2.281 billion to Ziggo into equity. The operator announced a policy for at least EUR 220 million in dividends this year and a pay-out of at least 50 percent of free cash flow from 2013. Ziggo is the largest cable operator in the Netherlands, with 3.0

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Categories: Fixed
Companies: Morgan Stanley / Ziggo
Countries: Netherlands
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