France’s Numericable is reported to have announced plans for an initial public offering valuing the cable company at some €5.57 billion ($7.69 billion).
According to a report from Dow Jones Newswires, the operator plans to raise around €652.5 million in new capital, including €250 million from a capital increase.
Meanwhile, private-equity owners Carlyle and Cinven are looking to sell another €402.2 million as part of the offering, which would give Numericable (Paris, France) an enterprise value of between €5.06 billion and €5.57 billion, including €2.75 billion in debt.
Trading is expected to start on November 8, according to the Dow Jones story, provided that regulatory authorities approve the offering.
Numericable’s estimated offering price range for the French offering and international offering is between €20.3 and €24.8 per share.
According to Eric Denoyer, Numericable’s chief executive, the offering “will allow us to increase the level of investment in our fiber network and accelerate the momentum that we have already achieved across the business”.
Numericable competes against telecoms incumbent France Telecom (Paris, France) as well as Iliad (Paris, France) and SFR (Paris, France) in France’s broadband market, and also offers mobile services over the network of Bouygues (Paris, France).