Tele Columbus IPO achieves total proceeds of EUR367m

Tele Columbus has announced that J.P. Morgan Securities fully exercised the ‘greenshoe option’ (also known as the ‘over-allotment option’) of purchasing over 3.333 million newly issued shares in the German cableco at the offer price of EUR10.0 (USD11.3) per share as part of its initial public offering (IPO). Through the exercise, J.P. Morgan will acquire 3.333 million newly issued shares of Tele Columbus and subsequently the share capital of the cableco will be raised by EUR3.333 million to EUR56.691 million. Including the greenshoe option, Tele Columbus says the total proceeds from the sale of new shares are around EUR367 million.