KDG trades at small premium

Shares in German MSO Kabel Deutschland (KDG) were trading slightly above the issue price today, their first day on the Frankfurt Stock Exchange.

They started trading at €22.50, 2.3% above the €22 issue price. KDG’s €760 million IPO is the biggest in Germany for two years.

Separately, KDG has said it will modernise the cable network in the town of Mühlhäusen in Thuringia.

From March 26, the HD offerings of ARD, ZDF and Arte will be available to the town’s residents. Mühlhäusen’s network will also be made ready for triple-play services.