Altice shares climbed 4.5% to €29.53 on the first day of trading in Amsterdam, giving the company a market value of €6.1 billion.
The company has priced its initial public offering at EUR28.25 per share, giving the group a market capitalisation of €5.7 billion. However, the stock rose during its first hour of trading in Amsterdam.
The company is selling 26.5 million new shares to raise around €750 million, while existing shareholder Next, the holding company of founder and chairman Patrick Drahi, will sell shares worth around €555 million.
The IPO will give the company a free float of 22.8% of outstanding shares, or 26.2% if the over-allotment option in the offering is exercised.
Altice owns and operates cable, mobile, internet and data-centre companies in countries including France (Numericable), Israel, Belgium (Numericable) and Portugal. The company has a growing business in the French West Indies and Caribbean.
