Derio-based cableco Euskaltel has confirmed plans to list on the stock market, Reuters reports, citing a statement issued by the company. It is understood that Euskaltel will sell off shares belonging to its main shareholders, those being former savings bank Kutxabank, Italian-owned private investors International Cable and Spanish utility Iberdrola. With the three aforementioned companies understood to currently hold almost all shares in Euskaltel, the cableco will reportedly look to list around 50% of its shares as part of the initial public offering (IPO), sources close to the deal were said to have revealed. The offering itself will reportedly be aimed at institutional investors, and is expected to be presented to potential buyers in a roadshow that could start as early as next week. Subsequently, Euskaltel shares are expected to begin trading at the end of July 2015, with banks JP Morgan and UBS understood to have agreed to act as the global co-ordinators and joint bookrunners for the deal.