Swedish cable operator Com Hem has published the prospectus and price range for its initial public offering of shares, valuing the company at SEK 10.07-12.44 billion. It will sell shares at SEK 44-62 each, meaning it will issue 91.4-128.9 million new shares in order to reach its gross proceeds target of SEK 5.67 billion. The underwriters have an option to increase the number of shares offered by 10 percent if demand warrants.
At the top of the price range and after exercise of the greenshoe, the company would have a market capitalisation of SEK 12.44 billion. Com Hem's main shareholder BC Partners will not be selling any shares in the IPO, but will see its stake dilute to just under 50 percent after the offering. The subscription period for the shares will run 4-13 June, and the shares are expected to start trading in Stockholm on 17 June. The listing is expected to help lower Com Hem's debt and enhance its public profile.
