Cable group Altice prices IPO in middle of range

PARIS Fri Jan 31, 2014 1:11am EST

PARIS Jan 31 (Reuters) - Cable group Altice set a price of 28.25 euros a share for its Friday stock market debut, giving the group a market capitalisation of 5.7 billion euros ($7.73 billion).

Altice, which owns French and Belgian cable companies and mobile operations in Israel, had originally set a range of 24.75 to 31.25 euros per share. Sources close to the deal said it had later narrowed it to 27 to 29 euros.

The total offering amounts to about 1.3 billion euros, rising to 1.5 billion if an over-allotment option for 15 percent of the shares is exercised in full, Altice said in a statement.

The shares are due to start trading on Euronext in Amsterdam at 0800 GMT.

($1 = 0.7373 euros) (Reporting by James Regan)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.