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Tele Columbus offer price set at EUR10 per share

23 Jan 2015

German cable operator Tele Columbus has announced that it has set the initial public offering (IPO) offer price for shares at EUR10.0 (USD11.5) per share – the mid-point of the EUR8.0-EUR12.0 per share price range. Around 51 million shares will be placed, comprising 33.3 million new shares resulting from a capital increase, 14.4 million existing shares being sold by Tele Columbus Management – a holding company which is indirectly held by the ultimate shareholders of Tele Columbus – and an additional 3.3 million existing shares borrowed by the underwriters from Tele Columbus Management to cover the over-allotment. The company says it will achieve proceeds of EUR333 million from the sale of the new shares (excluding the potential ‘greenshoe’ proceeds of up to 10% of the offering of the new shares). The resulting initial free float will amount to over 50% of the total issued and outstanding shares of Tele Columbus, assuming the full exercise of the greenshoe option. The shares of Tele Columbus will be traded on the Frankfurt Stock Exchange under the ticker symbol TC1 from today (23 January 2015).

Germany, Tele Columbus Group (PYUR)

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