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Com Hem readies IPO?

Com Hem, the Swedish cable operator owned by BC Partners, is preparing an initial public offering to raise about $1 billion, according to reports.

Com Hem could start the sale process as early as next week. The Stockholm IPO would value the company at about $3 billion and will likely involve a sale of new and existing shares.

Com Hem, which connects to nearly 40 per cent of homes in Sweden, reported earlier this month reported a Q1 underlying EBITDA of 545 million kronor ($83 million), compared with 544 million kronor a year earlier. Sales were little changed at 1.12 billion kronor as the number of unique subscribers increased 1.8 per cent to 838,000.

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