BC Partners-backed Com Hem prices IPO at SEK58 per share


swedish flagPrivate equity-backed Swedish cable operator Com Hem has priced its upcoming IPO at SEK58 ($8.75) per share, which values the business at SEK11.5bn ($1.73bn).

Com Hem, which is backed by BC Partners, has already sold SEK5.67bn worth of new shares at the upper end of its indicative range of SEK55 to SEK60, sources told Reuters.

The company said that the IPO has been oversubscribed and has attracted Swedish and international institutional investors as well as Swedish retail investors. It plans to use the proceeds to reduce its debt to SEK9.5bn ($1.43bn).

BC acquired Com Hem in a $2.6bn deal in 2011 and is expected to retain a 50 per cent stake after the IPO.

Com Hem provides analog and digital television, broadband internet and telephone services to the country. It is currently Sweden’s largest cable operator.

Earlier this year AltAssets reported that BC had made a return of two times from the sale of cleaning products company Spotless.

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