Polish cableco Multimedia Polska reportedly plans to relist on the Warsaw Stock Exchange in Q2 this year with an offering worth up to PLN1bn (US$328m).
The company’s owners might float “a less-than-half-stake” on the bourse from which it delisted…
Polish cableco Multimedia Polska reportedly plans to relist on the Warsaw Stock Exchange in Q2 this year with an offering worth up to PLN1bn (US$328m).
The company’s owners might float “a less-than-half-stake” on the bourse from which it delisted in 2011, Reuters cited a source familiar with the matter as saying.
Reports emerged late last year that the cableco – Poland’s third largest – wanted to return to the stock exchange after attempts to find a new investor failed.
Multimedia announced in October 2012 that its shareholders had decided not to sell their stakes in the company after a strategic review by JP Morgan convinced them it should continue with its existing growth strategy.
Today, Multimedia reported revenues for 2013 of PLN699.2m (US$229.24m), up 2% year-on-year. Adjusted EBITDA was up 1.2% to PLN355.5m (US$116.56m).
M2 Investments, a subsidiary of US-based YTD, has a 51.94% stake in Multimedia while Tri Media Holdings, controlled by Cyprus’ EVL, has a 41.71% interest. Multimedia supervisory board chairmen Thomas Ulatowski and Ygal Ozechov have holdings in M2 Investments.
Poland’s largest cablecos are Liberty Global’s local unit UPC and Vectra.
