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Altice IPO raises EUR 1.3 billion

2014-01-31 09:14:00| Telecompaper Headlines

(Telecompaper) Cable operator Altice has priced its initial public offering at EUR 28.25 per share, the mid-point of the earlier indicated range, giving the group a market capitalisation of EUR 5.7 billion. The company is selling 26.5 million new shares to raise around EUR 750 million, while existing shareholder Next, the holding company of founder and chairman Patrick Drahi, will sell shares worth around EUR 555 million. The IPO will give the company a free float of 22.8 percent of outstanding shares, or 26.2 percent if the over-allotment option in the offering is exercised. The shares start trading in Amsterdam on 31 January. 

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