France's Numericable to list 20-40 pct of group
PARIS, Sept 19
PARIS, Sept 19 (Reuters) - French cable operator Numericable plans to list between 20 percent and 40 percent of the company's capital in its planned initial public offering, Chief Executive Eric Denoyer said on Thursday.
The IPO will also be accompanied by a capital increase of 200-250 million euros ($267-$333.7 million) to help reduce net debt, the CEO said.
"The IPO will give our shareholders a window of liquidity and also gives us the means to invest more in our network to drive growth," Denoyer told a news conference.
"By increasing our capital expenditure, we will enter a new growth cycle. Where we have upgraded out network, we sell more services." ($1 = 0.7492 euros) (Reporting by Leila Abboud; Editing by Christian Plumb)