Tele Columbus to launch IPO

Tele Columbus to launch IPO

Germany’s third-largest cable operator, Tele Columbus, is to launch an IPO by the end of the year in a bid to raise $380 million.

The IPO will consist of new and existing shares which will be listed on the Frankfurt Stock Exchange, and the funds raised will be used to help reduce debt and fund growth.

Tele Columbus connects approximately 1.7 million households across eastern Germany.

"We plan to list our shares on the regulated or prime standard market of the Frankfurt stock exchange by the end of the year, depending on the market environment," the company said in a statement.

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