German cable operator Tele Columbus has set the offer price for shares in its IPO at €10 per share – the mid-point of the proposed price range between €8 and €12.
The offering was well oversubscribed at the offer price, according to the company. A total of 51,022,500 shares will be placed comprising 33.3 million new shares resulting from a capital increase.
Tele Columbus will achieve proceeds of up to €367 million from the sale of the new shares The resulting initial free float will amount to over 50% of the total issued and outstanding shares.
The shares will be traded on the regulated market (Prime Standard) of the Frankfurt stock exchange under the symbol TC1 from January 23, 2015.
