Tele Columbus moves forward with €300 million IPO plans

Tele Columbus is moving ahead with its postponed IPO, announcing plans to list on the Prime Standard of the Frankfurt Stock Exchange in the first half of 2015.

In a statement, the German cable operator said that it expects the primary proceeds from the offering to be around €300 million.

It said that the proceeds will be used to provide more financial flexibility for the company to continue its growth strategy – which includes increasing its market share and upping its coverage footprint.

Tele Columbus is the third largest cable network operator in Germany and provides services including basic cable television, premium TV packages, internet and telephony.

Tele Columbus said it is well positioned to take advantage of the growth opportunities in Germany, one of Europe’s most attractive cable markets.

Tele Columbus had previously set out plans to launch an initial public offering by the end of 2014.