Ziggo prices IPO at top of range, raises EUR 804 mln

News Broadband Netherlands 21 MRT 2012
Ziggo prices IPO at top of range, raises EUR 804 mln
Dutch cable operator Ziggo said the shares to be sold during its IPO have been priced at EUR 18.50 each, valuing the entire company at EUR 3.7 billion. The operator earlier set the price range at EUR 16.50-18.50. During its IPO, Ziggo will sell 43,478,260 shares, or 21.7 percent of its total shares, with the stake valued at over EUR 804 million. An over-allotment option, or greenshoe, of 15 percent has also been granted, taking the full stake sold, if exercised, to 25 percent of the company. Conditional trading of the shares on Amsterdam's NYSE Euronext began on 21 March with an initial price of EUR 21.20, while unconditional trading is set to debut on 26 March.

Categories:

Fixed

Companies:

Ziggo

Countries:

Netherlands

Tags:

Shareholders & subsidiaries, Cable - Docsis, Internet Access, Financial funding

Related Articles

NETHERLANDS 6 SEP 2013

Ziggo to join AEX from 23 Sept

Dutch cable operator Ziggo will be listed on the AEX index of NYSE Euronext Amsterdam from 23 September. Ziggo CEO Bernard Dijkhuizen said the listing follows in the wake of the operator's successful IPO in March 2012 and AMX listing in September 2012, and that it will significantly increase the visibility of the company in the financial markets.

NETHERLANDS 31 JUL 2012

Ziggo shareholders sell another 14.5% stake

The shareholders of Dutch cable operator Ziggo announced plans to sell another 14.5 percent stake in the company in a secondary public offering. The decision comes just four months after Ziggo's initial public offering of shares, when Cinven and Warburg Pincus sold 25 percent of the company. Since then, the share price has risen over 28 percent. The shareholders said the offer size was increased from an original 18 million shares to 29 million due to strong investor demand. The offering was priced at EUR 23

NETHERLANDS 24 APR 2012

Ziggo: growth continues, but first signs of FTTH impact visible

Ziggo showed another strong quarter in Q1 2012. The high growth and market share expansion is continuing, while the capacity utilisation on its network is falling slightly. ARPU is increasing, and cash flow generation is helping to reduce debt. The figures published earlier by Tele2 suggest that the DSL market is still struggling, and Ziggo's results confirm this. Ziggo reiterated its outlook for 2012, and the current trends can be expected to continue throughout this year.

NETHERLANDS 20 APR 2012

Ziggo Q1 shows continued growth, boosted by All-in-One

Ziggo said its All-in-One internet and telephony bundles saw strong growth in the first quarter, and that following its successful IPO, the company would continue to increase investment in infrastructure, innovation, customer services and marketing. The number of All-in-One customers rose by 192,000 in the quarter, with a 44.2 percent customer penetration rate. The total number of television customers went down 3.4 percent year-on-year to 2.981 million, with the number of analogue-only customers falling to

NETHERLANDS 27 MRT 2012

Ziggo completes IPO

Ziggo officially completed its IPO after market close on 26 March. The IPO brought in EUR 925 million, including the greenshoe allotment. The extra allotment was exercised in full, which means the cable operator will put extra shares onto the market. Around 50 million shares will start trading: a "free float" of 25 percent of the company's total share number.

NETHERLANDS 21 MRT 2012

Ziggo IPO a success after banks choose modest valuation

Dutch cable operator Ziggo has completed its IPO and listed on the Amsterdam exchange. Initial strong demand led to the number of shares on offer being increased to 43.5 million, and the offer was "multiple times" oversubscribed, according to the company. The issue was priced at the top of the indicated range of EUR 16.50-18.50, raising a total EUR 804 million. This gives the company a market capitalisation of EUR 3.7 billion. With net debt of EUR 3.2 billion, the company's enterprise value is EUR 6.9 billi

NETHERLANDS 21 MRT 2012

Ziggo-aandeel start op 18,50 euro, opent op 21,20 euro

[Update] Het aandeel Ziggo, dat vanaf 21 maart 2012 op de Amsterdamse beurs debuteert, kost 18,50 euro. Dat heeft het bedrijf vanavond bekendgemaakt. Tijdens de aankondiging van de beursgang gaf de directie aan een aandelenprijs tussen 16,50 en 18,50 euro te verwachten. Ziggo geeft 43.478.260 aandelen uit, ofwel 21,7 procent. De totale waarde van de beursgang komt uit op bijna 805 miljoen euro. De totale marktkapitalisatie van het bedrijf komt hiermee op 3,7 miljard euro. De openingskoers van de aandelen Zi

NETHERLANDS 19 MRT 2012

Ziggo to sell more shares during IPO

Dutch cable operator Ziggo has increased the number of shares it will offer during its planned IPO to 43.5 million from its originally planned 35 million, due to high demand. The company has therefore upped the stake sale to 21.7 percent from 17.5 percent. If the over-allotment option of 6.5 million shares is exercised in full, the IPO will represent 25 percent of Ziggo's total issued share capital. The IPO's subscription began on 9 March and will run until 20 March. Pricing and determination of the exact n

NETHERLANDS 9 MRT 2012

Ziggo to raise up to EUR 745 mln in IPO

Dutch cable operator Ziggo has set an indicative price range of EUR 16.50-18.50 for its upcoming initial public offering in Amsterdam, valuing the IPO at EUR 664.12-744.62 million, assuming full exercise of the greenshoe. The IPO will see the secondary sale of 35 million shares held by Ziggo shareholders Cinven and Warburg Pincus, as well as a greenshoe, or over-allotment, of up to an additional 15 percent, together making up 20.125 percent of Ziggo's total issued share capital. The IPO will include a publi

NETHERLANDS 29 FEB 2012

Ziggo IPO: another new corporate entity, details to follow

Cable operator Ziggo has confirmed it will seek a stock listing on the Amsterdam exchange. Shareholders Warburg Pincus and Cinven will sell existing shares in Ziggo NV in the initial public offering. At the same time, shareholder loans worth EUR 2.281 billion will be converted to shares. Details on the timing, price and size of the offering will follow later. Reuters reports that the company will sell around 15-20 percent of its shares, raising EUR 600-800 million.

NETHERLANDS 29 FEB 2012

Ziggo to proceed with IPO

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

NETHERLANDS 23 FEB 2012

Ziggo IPO could be worth EUR 8 bln - Telecompaper

A Ziggo IPO could be in the works, according to market reports. Talk about an IPO also arose in 2010 but market conditions threw a damper on plans. But now, the banking syndicate interested in the IPO has been extended to eight banks, according to Bloomberg. Ziggo is looking to raise EUR 1 billion from an IPO, which could take place as soon as March. Despite a no comment from Ziggo on the matter, Telecompaper has come out with a Research Brief: "Ziggo IPO preview update – valuation est. EUR 8 bln". The Bri

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

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

15:26

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

Background

01:04

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

01:39

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

13:51

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

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.