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Altice sets price range for IPO
2014-01-21 08:25:00| Telecompaper Headlines
(Telecompaper) Cable operator Altice announced a price range for its initial public offering of shares, saying it will raise in total EUR 1.305 billion. The shares are offered at EUR 24.75 to 31.25 per share, and the offering will consist of EUR 750 million in new shares sold by the company and EUR 555 million in shares sold by existing shareholders. This will lead to a free float of 20.8-25.6 percent of Altice's outstanding shares. The underwriters will also have the option to increase the amount of shares sold by 15 percent, raising the total proceeds to EUR 1.501 billion. The subscription period runs until 30 January, and the shares are expected to start trading in Amsterdam on 31 January.
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Category:Telecommunications