Largest IPO in Amsterdam since 2006

Cable operator Altice has raised €1.3 billion in its initial public offering (IPO) at the Amsterdam Stock Exchange, Bloomberg News reports.

The company’s’ shares rose as much as 5.7% and climbed 1.5% to €28.66 at 11:47 a.m., giving the company a market value of €5.9 billion, Bloomberg said. In total, Altice sold 46.1 million shares at €28.25 per share in the largest IPO in Amsterdam since 2006. Also, it is the largest IPO ever by a cable company in Europe. Altice, which owns and operates cable, mobile, Internet and data-center companies in countries including France, Israel, Belgium and Portugal, intends to use the proceeds to reduce its debt.