Multimedia gives up IPO amid low demand
May 30, 2014
Shareholders of Polish triple play cable operator Multimedia resigned last minute from their IPO after failing to draw heavy interest in bookbuilding, the firm said in a statement.
The cable provider of TV, internet and telecom services had offered 49.2% of existing shares in its IPO, with a return to the WSE slated for June 11.
Multimedia Polska is one of Poland's top three cable operators with around 826,000 clients at end-2013, according to the statement. In 2013 the group generated PLN 355.5 million adjusted EBITDA, PLN 70.7 million net profit and PLN 699.2 million revenues.
The firm was previously listed on WSE from 2006 to 2011 before being taken private.