Cable Holding places 15 million KDG shares
By Robert Briel
Published: October 1, 2010 12.50 Europe/London
Luxembourg based Cable Holding SA, the largest shareholder of Kabel Deutschland Holding AG said it had successfully placed 15 million of shares in the Company to institutional investors on Thursday, September 30.
With that, 49.5 million shares representing approximately 55% of the Company’s total 90 million shares are in the free float. Cable Holding SA remains largest shareholder with approximately 45% of the share capital in Kabel Deutschland Holding AG.
Cable Holding SA voluntarily agreed to a six months lock up period for its remaining stake in Kabel Deutschland Holding AG. Following the placement, Providence Equity Partners, the largest shareholder behind Cable Holding SA, continues to hold a substantial investment in Germany’s largest cable operator reflecting their strong support and commitment to the Company.
The announcement said the price was set at the upper end of the price range at €27.50. There was a strong demand from more than 130 institutions from the US, UK and Europe resulting in the book to be several times oversubscribed.
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