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October 25, 2006
Neuf Cegetel IPO Bouyant
Neuf Cegetel went out at the high end of the bookbuilding range
According to Euronext's quotes Neuf is currently trading 6% above its IPO price.
We relied on MarketWatch to do the math on the IPO details today instead of our own grey matter. It was an €818 million($1.03 billion) initial public offering, valuing the company at around €4.6B, says MarketWatch. It also said the book was 15 times oversubscribed, an over-allotment option was granted, and employees were able to buy shares at 17.67 euros. Neuf earlier this month purchased the subscriber base of AOL France for $365 million.
If we have time we will compare Neuf's valuation multiples to Iliad and France Telecom - is it being valued like an innovative ISP/broadband operator or a fixed network telco?
Read - Telecom Neuf Cegetel's shares take off after IPO (MarketWatch)
Read - Buzz Buildup For Neuf Cegetel IPO Archives(alarm:clock euro)
Posted on October 25, 2006 02:00 PM | Posted to News And Updates | Permalink
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