WOW! IPO fails to wow investors

30 May 2017

Colorado-based cableco Wide Open West (WOW!) has confirmed that its initial public offering (IPO) – which got underway late last week – was priced at USD17.00, below the projected USD20.00-USD22.00 price range. A total of 18.235 million shares were made available on the New York Stock Exchange (NYSE), potentially generating a total of USD310 million – well below the cableco’s original USD400 million target. After a slow start – the shares opened at just USD16.00 – the share price reached USD17.55 at 5pm on Friday 26 May, the company’s investor relations site notes. The IPO is expected to close on 31 May 2017.

TeleGeography notes that WOW! offers cable connectivity to 300 communities across 19 markets in the states of Alabama, Florida, Georgia, Illinois, Indiana, Maryland, Michigan, Ohio, South Carolina and Tennessee. WOW! is the United States’ seventh largest cable broadband operator by subscribers, and claimed a total of 718,900 high speed internet users at end-December 2016.

United States, Wide Open West (WOW!)