Numericable targets €652 million through IPO

French cable operator Numericable is seeking to raise around €652 million by listing on the stock market next month, through an IPO that will value the firm at up to €5.57 billion. 

The firm will sell its shares for between €20.30 and €24.80 per-share and said the IPO will include €250 million in new shares and €402 million in existing shares sold by owners Carlyle and Cinven, according to a Reuters report.

The IPO, which is expected to take place on November 7 with trading to follow the next day, is tipped to be France’s largest public offering in more than three years.

The share price range will value Numericable at between €5.06 billion and €5.57 billion, including €2.75 billion in debt.