Telenet preparing for IPO

Telenet, a Belgian cable operator backed by GIMV, is to float on the Brussels Stock Exchange in an IPO which could see the company valued at €2.5bn.

The indicative share price range has been set at between €21 to €25, and if Telenet prices at the top of this range, GIMV’s stake of 15% will increase in value by €230.5m from its June valuation of €116.2m. It plans to reduce its share to 3% following the IPO on October 11.

Telenet was founded in 1996 with start-up capital from GIMV. Other shareholders include Flemish local government companies and US cable operator Liberty Media, which recently bought Cablecom, a Swiss peer, for US$2.2bn.