KDG debuts on the Frankfurt bourse

German cable operator Kabel Deutschland (KDG) has this morning made its debut on the Frankfurt Stock Exchange at EUR22.5 (USD30.4) per share, slightly above the EUR22 per share price set for its initial public offering (IPO), Reuters reports. The price is close to the bottom of the range previously set by the company. The cableco’s owners – private equity firm Providence Equity (88%), Ontario Teachers’ Pension Plan (8%), and company management (4%) – raised EUR759 million after selling a combined 34.5 million secondary shares, including a 4.5 million-share greenshoe option.