Ziggo Ups IPO Size

Dutch cable company Ziggo has increased the number of shares on offer in its Amsterdam listing due to strong demand from investors, writes Reuters. This could take possible proceeds from the sale to as much as 925 million euros ($1.2 billion). Selling shareholders, which include private equity firms Cinven and Warburg Pincus will now sell as much as 50 million shares, or a 25 percent stake in the company, if a 15 percent overallotment option is exercised, according to Reuters.

Reuters – Dutch cable company Ziggo has increased the number of shares on offer in its Amsterdam listing due to strong demand from investors, taking possible proceeds from the sale to as much as 925 million euros ($1.2 billion).

That would make it the largest initial public offering (IPO) in Europe since the middle of last year, when companies put their listing plans on hold as the euro zone debt crisis rattled stock markets.

Swiss company DKSH, which is set to break the drought in European IPO activity when it makes its market debut on Tuesday, is due to raise up to 900 million Swiss francs ($982.5 million) for its majority owner.

Ziggo said on Monday its selling shareholders, which include private equity firms Cinven and Warburg Pincus , would now sell as much as 50 million shares, or a 25 percent stake in the company, if a 15 percent overallotment option was exercised.

The offer size was increased from the original plan to sell as much as 20 percent of the company due to “significant demand” for the shares, Ziggo said.

The company is set to price the sale at the top end of its original 16.50 to 18.50 euro per share range, a source close to the deal said on Friday, after investors were told those who put in orders below 18.50 euros risked missing out.

Order books are due to close later on Monday, a day earlier than originally scheduled. The company will make its market debut on the NYSE Euronext Amsterdam stock exchange on March 21. ($1 = 0.7592 euros) ($1 = 0.9161 Swiss francs) (Reporting by Roberta Cowan and Kylie MacLellan)