The Swedish cable operator said that the share price gives it a market capitalisation of SEK11.47 billion (€1.27 billion), with the 97.75 million newly issued shares netting the firm SEK5.67 billion (€629 million) in gross proceeds.
This is before an over-allotment option that Com Hem has granted its joint global coordinators, which have until June 17 to exercise this in full or part. If they exercise it in full, Com Hem will receive additional gross proceeds of SEK567 million (€62.9 million).
Com Hem said its offering was “over-subscribed several times” and that it attracted strong interest among Swedish and international institutional investors, as well as Swedish retail investors.
BC Partners remains the largest investor in Com Hem with a 50.0 % holding and did not sell any shares in the offering. If the over-allotment option is exercised in full its share will drop to 47.7%.
“We are very pleased with the success of the IPO as it reflects the investor community’s confidence in our strategy and our ability to benefit from the investments made in our network, products and services. With the support of our new shareholders, we are in a strong position to move forward and to grow our business,” said Anders Nilsson, CEO of Com Hem.