Amsterdam, Brussels, Lisbon, London and Paris – 31 January 2014 – Shares in multinational cable telecommunications company Altice S.A. (ticker symbol: ATC) today began trading on the Amsterdam market of Euronext, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE). With a total offering valued at approximately € 1.3 billion Altice is the largest IPO in continental Europe for twelve months.
Altice provides cable based services, amongst which high quality pay television, fast broadband internet and fixed line telephony, in Europe, the Indian Ocean Area and the Dominican Republic. In addition the company brings mobile telephony services to residential and corporate customers.
After opening, the first market price was € 28.30 per share. The total market capitalization of the company at opening was over € 5.7 billion.
Patrick Drahi, Chairman of Altice, said: “Everyone here is delighted to celebrate Altice’s first day as a publicly traded company. I am very proud that an entrepreneurial company like Altice has grown into the multinational cable business it is today, and this IPO will further help the development of our ambitious strategic plans.”
Cees Vermaas, CEO of Euronext Amsterdam, said: “We are pleased to welcome Altice to our exchange. The company’s successful IPO confirms the reopening of the capital markets and Amsterdam’s position as a leading international listing venue. Our platform will give the company consolidated access to global capital markets as well as provide liquidity to its shareholders.”
Anne Louise van Lynden, Head of Listing at Euronext Amsterdam, added “Amsterdam is widely recognised as an attractive market for global companies. The listing of Altice is a great example of how Euronext is serving multinationals looking to raise capital efficiently. We have an excellent track record of successful IPOs in the telecommunication and cable operator industries sector and are delighted to support Altice’s management in realizing their growth plans.”
Altice Chairman Patrick Drahi celebrated the company’s listing by sounding the opening gong which denotes the opening of trading on Euronext. He was joined by Altice CEO Dexter Goei and CFO Dennis Okhuijsen, the Euronext listing team, and Cees Vermaas, CEO of Euronext Amsterdam.