Altice Group sets IPO price range

21 Jan 2014

Luxembourg-based Altice Group, which is controlled by French telecoms entrepreneur Patrick Drahi, has set a price range of EUR24.75 (USD33.25) to EUR31.25 per share for its initial public offering (IPO), and will aim to sell between 20.8% and 25.6% of the business, depending on the level of demand. According to Reuters, the IPO – which is valued at EUR1.5 billion – will be marketed to institutional investors in Europe and the US and individuals in the Netherlands. Shares are due to begin trading on the Euronext stock exchange in Amsterdam on 31 January. Goldman Sachs and Morgan Stanley are running the offering and acting as joint bookrunners, along with Credit Suisse, Deutsche Bank and HSBC.

Luxembourg, Altice Europe (formerly Altice Group)