German Versatel IPO could raise 1.5-2.0 bln eur, largest IPO for 2 yrs - report |
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Published
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Thu, 12 Apr 2007 10:09
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FRANKFURT (Thomson Financial) - The flotation of German telecommunications provider Versatel AG could be the largest in Germany for two years, with IPO proceeds expected to be between 1.5 bln eur and 2 bln eur, Frankfurter Allgemeine Zeitung reported, citing sources.It said Apax will sell more shares than the 50 pct stake it had previously planned to sell via a listing in Frankfurt.Symrise AG's IPO generated around 1.4 bln eur last year and in 2004, the listing of Deutsche Postbank AG reaped around 1.55 bln eur.Versatel itself today said that it hopes to generate more than 400 mln eur by selling up to 20 mln shares from a capital increase.Another 22 mln shares from the tranche of private equity investor Apax will also be offered at the IPO, it said.Apax bought the German operations of the Dutch-listed Versatel Telekom International NV from Swedish owner Tele2 in October 2005. Last year, Apax merged the business with those of Tropolys.marilyn.gerlach@thomson.commog/rfwCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Versatel to go ahead with Tele2 acquisitions after Amsterdam court ruling 