NC Numericable SAS to Raise EUR 652 Million in IPO-Reuters
Reuters reported that NC Numericable SAS plans to sell its shares for between EUR 20.30 and EUR 24.80 per share in a listing set for November 2013, valuing the private-equity-owned company at up to EUR 5.57 billion (USD 7.68 billion) including debt. The Company said the initial public offering (IPO) would include EUR 250 million in new shares and EUR 402 million in existing shares sold by owners Carlyle and Cinven. There is an overallotment option for additional existing shares representing up to 15% of the offering. The total equity stake being offered represents 25% of NC Numericable SAS, including an employee share offering worth EUR 2 million, the Company's Chief Executive said. The IPO will include a public offering in France, principally aimed at retail investors, and an international offering mainly to institutional investors that includes a private placement in France.
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