Swedish cable operator Com Hem said it set a final price of SEK 58 per share in its IPO, with trading starting on the Nasdaq OMX Stockholm exchange on 17 June. This compares with a price range of SEK 44-62. The price values Com Hem at SEK 11.470 billion, assuming the overallotment option is not taken up. Com Hem offered 97,754,179 new shares, providing the company with SEK 5.670 billion in gross liquidity without the overallotment option, which is up to 9,775,418, valid for 30 days. Using this option in full would provide Com Hem with another SEK 567 million in gross liqiudity.
It said the shares had been distributed to international and domestic institutional investors, as well as to the general public in Sweden. Com Hem's trading code is COMH. BC Partners has not sold any shares in the offer and remains Com Hem's largest shareholder with 50.0 percent, although this holding will drop to 47.7 percent if the overallotment option is utilised in full.
JP Morgan, Morgan Stanley and Nordea are the joint global coordinators and joint bookrunners, with as another bookrunner. Rothschild acted as financial advisor to Com Hem and its owners. CEO Anders Nilsson said the support of its new owners will enable it to develop and expand.
