German cable operator Tele Columbus has set the offer price for shares sold through its IPO at €10 per share, at the mid-point of the previously announced price range of €8.00 to €12.00 per share.
The move means that Tele Columbus expects to raise between €333 million and €367 million from the sale of the new shares, depending on the exercise of a provision that allows underwriters to sell investors more shares than originally planned. The IPO will mean that over 50% of the company will be free-floated
According to the company, the offering was well oversubscribed at the offer price.
A total of 51,022,500 shares will be placed, comprising 33.3 million new shares resulting from a capital increase, 14.4 million existing shares being sold by Tele Columbus Management holding company, and an additional 3.3 million existing shares borrowed by the Underwriters from Tele Columbus Management to cover the over-allotment.
Some 26 million shares will be allocated to pre-IPO shareholders who have placed orders for preferential allocation.
“We are delighted with the strong demand for the Tele Columbus shares and are looking forward to the first trading day”, says Ronny Verhelst, CEO of Tele Columbus. “The response from investors has been very positive and confirms the attractiveness of our business model. The access to the capital market going forward increases the Company’s financial flexibility to significantly strengthen our market position.”
Discovery Sports acquires 10-year rights to Laver Cup digitaltveurope.com/2021/09/16/dis… https://t.co/F7WEY5JFuV
16 September 2021 @ 17:30:00 UTC