Zegona is following up its acquisition by trading Telecable shares under the ZEG ticker on London’s AIM alternative investment stock market, making 192,326,724 ordinary shares available at nominal price of £0.01. Zegona has also issued a further 3,718,236 sharesat the same proce as part of its acquisition price.
The AIM listing is designed to make further resources available to the Asturias-based operator to increase and improve its services and make a converged offering available to its customers.
Zegona originally began trading on the AIM in March. The company, created by ex-Virgin Media executives Eamonn O’Hare as chairman and CEO and Robert Samuelson as COO, said at the time that it planned to make acquisitions in the European TMT sector with a ‘buy-fix-sell’ strategy.
The company’s plan is to make investments in sound businesses that require further changes to realize their full value. Zegona aims to create a portfolio of assets with enterprise values in the range of £1 billion to £3 billion.
Zegona is backed by institutional investors including Marwyn, Woodford & Co, Fidelity, Hargreave Hale, Wellington, Standard Life and Smith and Williamson.
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