Basque Country regional cable operator Euskaltel debuted on the Bilbao stock exchange yesterday, hitting a price of €10.315 at midday, some 8.5% higher than its opening price of €9.5. At the close of trading, Euskaltel’s shares were trading at €10.05.
The €9.5 set by the operator was in the middle of its indicative range of between €8.7 and €11.05.
Euskaltel president Alberto García Erauzkin said that it was a historic day for his company.
The flotation, with the sale of 126.5 million shares, gave the company a market cap of €1.3 billion. Kutxabank remains the largest shareholder of the company with a 30.1% stake, followed by Corporación Financiera Alba with an 8% holding.
Talking to journalists after the flotation, Erauzkin declined to discuss possible consolidation of the three independent northern Spanish cable operators – Euskaltel, Telecable and R – but said that “something will happen” with the operators in the future.
ICYMI: United Group to integrate Forthnet as telco increases stake in Greek operator digitaltveurope.com/2020/11/26/uni… https://t.co/HS0O2urkfj
26 November 2020 @ 21:00:00 UTC
ICYMI: Drahi launches public offer to take Altice Europe private digitaltveurope.com/2020/11/26/dra… https://t.co/AEuTA7M7vM
26 November 2020 @ 20:00:00 UTC