The Spanish cable operator Euskaltel has been valued at €1.2 billion in an upcoming IPO.
Quoting a statement provided by the company, Bloomberg reports that trading is expected to start on Wednesday, July 1, with shares priced at €9.50 each.
It adds that the existing shareholders, which include International Cable and Kutxabank, are selling around 64% of Euskatel, excluding a so-called over-allotment option.
Euskaltel provided services to over 870,000 households and nearly 150,000 businesses as of the end of the first quarter.
