Providence Equity Partners is planning to raise €880 million from the IPO of Kabel Deutschland.
The price range of between €21.50 and €22.50 per share places a valuation on Germany’s largest cable network less than would have been realised by last month’s rejected buy out bids.
Up to 30 million shares are to be sold out of the entire 90 million share capital. The move will retain a majority stake for Providence.