Multimedia Cable TV Plans Biggest Warsaw IPO Since December - Bloomberg

Multimedia Cable TV Plans Biggest Warsaw IPO Since December - Bloomberg:



"Multimedia Polska SA owners seek to sell a 49 percent stake in Poland’s third-biggest cable TV operator by the end of June in what is set to be central Europe’s largest initial public offering since December. 




Multimedia will return to public trading after its owners delisted it from the Warsaw Stock Exchange in 2011, taking advantage of low valuations and starting a search for an industry investor. In 2012 Multimedia hired JPMorgan Chase & Co. to help it find a buyer and dropped the plan the same year. Sales have increased 12 percent since 2011 as the company boosted its customer base, while net income dropped 31 percent.



The value of initial and secondary share offerings of European companies has jumped 51 percent to a seven-year high of $61 billion this year from a year earlier. BI European Cable and Satellite index, which shows market capitalization of pay TV providers in Europe, trades at an all-time high after it gained 44 percent since the start of 2013."



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