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Tele Columbus sets IPO price range
2015-01-13 12:09:00| Telecompaper Headlines
(Telecompaper) German cable operator Tele Columbus has set a price range of EUR 8-12 per share for its initial public offering of shares. The company is offering 37.5 million new shares and existing shareholders are selling 15.3 million shares. In addition, an over-allotment of 3.75 million more shares is available if demand warrants. If this is exercised, the company could raise a total EUR 452.2 million at the bottom of the price range and EUR 678.3 million at the top of the range. The offer period runs 13-21 January, and the shares are expected to start trading in Frankfurt 23 January. Tele Columbus said it will use the proceeds to reduce debt and support its growth strategy.
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Category:Telecommunications