IPO will give Numericable means to invest:
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Pascale Paoli-Lebailly | 19-09-2013
French cable operator Numericable has made official its planned IPO which will list 20-40% of the company’s capital.
The IPO will also “be accompanied by a capital increase of €200-250 million to help reduce net debt,” according to CEO Eric Denoyer.
"The IPO will give our shareholders a window of liquidity and also gives us the means to invest more in our network to drive growth," Denoyer told a news conference.
"By increasing our capital expenditure, we will enter a new growth cycle. Where we have upgraded out network, we sell more services."
Numericable, whose packages of pay-TV, Internet and fixed and mobile lines cover 9.9 million homes in France, already invests €300 million each year and will invest €220-230 additional million in the 2014-2016 period. It aims to achieve a complete network upgrade in order to reach the 8.5 million FTTH homes passed mark compared to the 5.5 million now.
Owners Cinven, Carlyle and Altice are seeking to ride a wave of investor interest in European cable operators.
In its IPO document, the company forecasts annual sales growth of 2-5% between 2013 and 2016, up from €1.3 billion last year.
Numericable is also targeting an adjusted EBITDA margin of 50% in 2016, compared with 47.6% last year.
The date for Numericable’s IPO hasn’t been disclosed, though reports say it could take place in early November and value the group at about €5 billion.
French cable operator Numericable has made official its planned IPO which will list 20-40% of the company’s capital.
The IPO will also “be accompanied by a capital increase of €200-250 million to help reduce net debt,” according to CEO Eric Denoyer.
"The IPO will give our shareholders a window of liquidity and also gives us the means to invest more in our network to drive growth," Denoyer told a news conference.
"By increasing our capital expenditure, we will enter a new growth cycle. Where we have upgraded out network, we sell more services."
Numericable, whose packages of pay-TV, Internet and fixed and mobile lines cover 9.9 million homes in France, already invests €300 million each year and will invest €220-230 additional million in the 2014-2016 period. It aims to achieve a complete network upgrade in order to reach the 8.5 million FTTH homes passed mark compared to the 5.5 million now.
Owners Cinven, Carlyle and Altice are seeking to ride a wave of investor interest in European cable operators.
In its IPO document, the company forecasts annual sales growth of 2-5% between 2013 and 2016, up from €1.3 billion last year.
Numericable is also targeting an adjusted EBITDA margin of 50% in 2016, compared with 47.6% last year.
The date for Numericable’s IPO hasn’t been disclosed, though reports say it could take place in early November and value the group at about €5 billion.
http://www.satsupreme.com/showthread.php/266598-IPO-will-give-Numericable-means-to-invest?goto=newpost via SatSupreme.com - Satellite TV - Daily Satellite TV News
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