German cable operator Kabel Deutschland (KDG), which is on course for an IPO, has reportedly been valued at between E5.7bn and E6.6bn by Deutsche Bank analysts.
According to Dow Jones, the bank has said that the company’s equity is worth between E3.1bn…
German cable operator Kabel Deutschland (KDG), which is on course for an IPO, has reportedly been valued at between E5.7bn and E6.6bn by Deutsche Bank analysts.
According to Dow Jones, the bank has said that the company’s equity is worth between E3.1bn and E4bn, while net debt stands at around E3bn. The analysis suggests a ratio of around 8.2 – 9.4 times EBITDA.
KDG has mandated Deutsche Bank, JPMorgan, Morgan Stanley and UBS to manage an IPO, through which it is expected to raise more than E1bn. The timing of the deal has yet to be announced.
KDG recently rejected offers of around E5bn-E5.5bn from a number of private equity groups in favour of the stock market listing.
The triple play provider reported net profit of E23.1m for the first nine months of the financial year ending March 31.