Polish cableco Multimedia Polska has confirmed that its shareholders plan to list a 49.2% stake in the company on the Warsaw Stock Exchange in Q2 this year.
The planned public offering, estimated to be worth up to PLN1bn (US$329m), will include shares…
Polish cableco Multimedia Polska has confirmed that its shareholders plan to list a 49.2% stake in the company on the Warsaw Stock Exchange in Q2 this year.
The planned public offering, estimated to be worth up to PLN1bn (US$329m), will include shares currently owned by M2 Investments, Tri Media Holdings, Dunaville Trading and Collegium Anetta Kolasinska & Partners, the company said in a statement.
UBS is global coordinator and joint bookrunner for the transaction, while Unicredit and Raiffeisen are acting as joint leads.
The offering is scheduled for Q2 2014, subject to market conditions and obtaining the necessary approvals.
Shares will be offered to individual and institutional investors in Poland and qualified international buyers.
Reports emerged late last year that Multimedia, Poland’s third largest cableco, wanted to relist on the Warsaw bourse after attempts to find a new investor failed. Its co-chairmen, Tomek Ulatowski and Ygal Ozechov, delisted the company in 2011.
The Gdynia-based cableco 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).
Multimedia 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.
