Cable and telecom investor Altice has successfully priced the share issue it announced earlier this week and will raise gross proceeds of approximately €1.61 billion from the sale, the company has announced.
Altice placed 69,997,600 A shares at a price of €17 and 24,825,602 B shares at the same price. The proceeds will go towards meeting the requirements for Altice’s acquisition of US cable operator Cablevision.
As part of the placing, Altice managers subscribed for new B shares in an aggregate amount of €170 million.
Altice will apply to list the new shares on the Euronext Amsterdam stock exchange on October 5. The shares are subject to a 90-day lock up period.
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