Premiere pay-TV marks Germany’s IPO recovery
Premiere Fernsehen, the German cable television station, successfully priced on Tuesday the largest German flotation since that of Postbank last June, raising Eu1.2bn and setting the sluggish German IPO market on a firm footing for recovery.
Bookrunners Credit Suisse First Boston, HVB and Morgan Stanley priced the IPO at Eu28 a share, the top of the range, after a 12 times oversubscription.
A notable achievement of the deal was to generate enthusiastic demand from German and Austrian private investors, many of
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