Swedish cable operator to launch IPO
23 May 2014 |
Swedish cable operator Com Hem is reportedly planning to launch an initial public offering (IPO) to list its shares on the Stockholm stock exchange.
Com Hem said the IPO would largely consist of new shares issued by the company, as well as existing stock held by BC Partners – Com Hem’s owner.
In a statement, the company said it expects to raise approximately 5.5 billion kr ($835 million) from the offering, which it will use to reduce debts.
JP Morgan, Morgan Stanley and Nordea are managing the IPO, which could value Com Hem at about $3 billion, according to sources close to the matter.
Com Hem provides cable services to approximately 39% of homes in Sweden and is investing in increasing its broadband speeds to accommodate recent partnerships with TiVo and Netflix for video-on-demand services.
The news follows reports of other European cable operators considering IPOs, including ONO in Spain.
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