Multimedia Polska has been given the green light from the Polish financial regulator for its planned relisting on the Warsaw Stock Exchange, which is expected to take place in June.
The KNF approved Multimedia’s prospectus for its planned public…
Multimedia Polska has been given the green light from the Polish financial regulator for its planned relisting on the Warsaw Stock Exchange, which is expected to take place in June.
The KNF approved Multimedia’s prospectus for its planned public offering, estimated to be worth up to PLN1bn (US$329m), and intention to apply for admission to trading on the stock market.
Multimedia – Poland’s third largest cableco – confirmed in March that its shareholders plan to list a 49.2% stake in the company in Q2 this year. The offering is expected in early June, a banker with knowledge of the Polish cable sector confirmed to TelecomFinance.
An investor roadshow is likely to get underway at the end of the week, according to two sources familiar with the matter cited by Reuters.
Multimedia’s controlling co-chairmen Tomek Ulatowski and Ygal Ozechov delisted the company in 2011, after which it tried unsuccessfully to find a buyer.
UBS is the global coordinator and joint bookrunner for the relisting, while Unicredit and Raiffeisen are acting as joint leads. The offering will include shares held by M2 Investments, Tri Media Holdings, Dunaville Trading and Collegium Anetta Kolasinska & Partners.
Multimedia reported revenues for FY 2013 of PLN699.2m (US$229.24m), up 2% year-on-year. Adjusted EBITDA was up 1.2% to PLN355.5m (US$116.56m).
The Gdynia-based cableco provides digital TV, broadband, fixed-line and mobile services to about 826,000 customers. Liberty Global’s local unit UPC and Vectra are the nation’s two largest cablecos.
