UPDATE 1-Swedish cable operator Com Hem to raise $835 mln in IPO
* Second-largest amount raised in Nordic IPO this year
* JP Morgan, Morgan Stanley, Nordea lead IPO
* Proceeds to be used to bring down debt (Adds detail, background)
STOCKHOLM, May 23 (Reuters) - Swedish cable operator Com Hem, owned by private equity firm BC Partners Ltd, said on Friday it plans to raise about 5.5 billion crowns ($835 million) in an initial public offering in Stockholm, adding to a string of Nordic IPOs this year.
The plans to list Com Hem comes amid a flurry of deal activity in the European cable sector. Vodafone earlier this year agreed to buy Spain's largest cable firm, Ono, in a $10 billion deal and U.S. cable group Liberty Global is buying Dutch peer Ziggo.
Com Hem, Sweden's largest cable operator, said in a statement the owners may also sell existing shares in the offering and that the proceeds from the share issue would be used to reduce debt.
The value of the share issue would be the second largest raised by a Nordic firm in an IPO this year, behind the 8 billion Danish crowns ($1.47 billion) raised by outsourcing firm ISS in March.
JP Morgan, Morgan Stanley and Nordea are acting as joint global coordinators and joint bookrunners in the IPO. Carnegie is joint bookrunner and Rothschild is financial advisor to the company and the owners.
BC Partners bought Com Hem in 2011 for about $2.6 billion.
Sources previously told Reuters in March that BC Partners planned to list Com Hem in an IPO that could value it at more than 20 billion crowns, including debt.
Com Hem had sales of 4.4 billion crowns in 2013 and earnings before interest, tax, depreciation and amortisation (EBITDA) of 2.2 billion.
($1 = 6.5900 Swedish crowns)
(Reporting by Sven Nordenstam; Editing by Matt Driskill)