French cableco Numericable’s IPO has increased to about €749.1m (US$1bn) in size following the exercise of the greenshoe option.
The Paris-based company said joint global coordinators and bookrunners for the IPO, Deutsche Bank and JP Morgan, have…
French cableco Numericable’s IPO has increased to about €749.1m (US$1bn) in size following the exercise of the greenshoe option.
The Paris-based company said joint global coordinators and bookrunners for the IPO, Deutsche Bank and JP Morgan, have exercised the over-allotment option on €96.97m worth of additional existing shares. As such, the total number of shares offered in the IPO has risen to 30.2 million, representing 24% of the company’s total share capital.
After the IPO and greenshoe exercise, Altice becomes Numericable’s largest shareholder with 30% of shares. Carlyle has 26% and Cinven 18% while the remaining 24% are in free float. Pre-IPO, Carlye and Cinven owned 37.5% each, while Altice owned 24%.
Numericable hailed the IPO a success earlier this month when the offering was more than 10 times oversubscribed, with strong demand from French and institutional investors. The listing price was set at the top end of the initial €20.30-€24.80 range and, before the greenshoe option was exercised, the offering amounted to €652.2m (US$874.6m).
Numericable shares began trading on the NYSE Euronext in Paris on 8 November.
Credit Agricole, HSBC and Morgan Stanley are also joint bookrunners for the IPO, while Jefferies, Nomura and Oddo are also working on the transaction.
