Ziggo owners seek $900m stock sale
The private equity backers of Dutch cable TV and telecoms operator Ziggo have confirmed they are selling a block of shares into the market, which were worth up to €700 million on October 24th.
Cinven, Warburg Pincus and other co-investors owning 57.1 per cent of Ziggo’s share capital said they were offering 25 million Ziggo shares to Dutch and international institutional investors – 12.5 per cent of the company’s shares in issue – with an overallotment option on another 2 million shares.
Cinven and Warburg Pincus said the final amount of the offering would be subject to demand.
In March, Ziggo became one of the first companies to list in Europe after an eight-month hiatus, after euro zone worries rattled markets, with the shares in the initial offer sold at €18.50.