Ziggo set to price IPO at top of range - source
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Ziggo set to price IPO at top of range - source

www.reuters.com   | 16.03.2012.

LONDON, March 16 (Reuters) - Dutch cable company Ziggo is set to price its initial public offering at the top of its price guidance range, a source close to the deal said on Friday, banking as much as 745 million euros ($973.8 million) for its selling shareholders.
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* Order books to close a day early

LONDON, March 16 (Reuters) - Dutch cable company Ziggo is set to price its initial public offering at the top of its price guidance range, a source close to the deal said on Friday, banking as much as 745 million euros ($973.8 million) for its selling shareholders.

Order books on the sale of as much as 20 percent of the company, which were covered after just one day of bookbuilding, will now close on Monday, a day earlier than originally scheduled, the source said.

Ziggo and Swiss company DKSH, due to make its market debut in Zurich on March 20, are on track to be the first sizeable European IPOs since the middle of last year, when companies put their listing plans on ice due to market volatility brought on by the euro zone debt crisis.

Ziggo had initially offered its shares at between 16.50 and 18.50 euros each, but on Friday investors were told those who had put in orders below 18.50 euros per share risked missing out, the source said.

Because of the level of demand, investors were also warned they would likely only receive a very small proportion, or even none, of the shares they requested.

The offering, in which no new shares are being sold, will see Ziggo's majority owners - private equity firms Cinven and Warburg Pincus - reducing their stakes.

Ziggo will make its debut on the NYSE Euronext Amsterdam stock exchange on March 21 as originally planned.



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