Greenshoe attracts investors to €682m Ziggo block
The unusual use of an over-allotment option in a block sale of 29m shares in Dutch cable operator Ziggo encouraged investors who would otherwise have stayed away to get involved in the deal, said a banker close to the deal on Tuesday.
Private equity firms Warburg Pincus and Cinven, alongside their co-investors, launched a deal just before 5pm London time on Monday afternoon, with an initial size of 18m share plus a 2m-share greenshoe.
But with the deal covered within an hour of launching, the placement was increased to 29m
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