No quibbles as Ziggo pops 15%

Investors lucky enough to receive stock in the €804m IPO of Ziggo enjoyed a 15% first day gain with around 45% of the deal shares traded. And there were no quibbles from bankers uninvolved about under-pricing, either, with the Street just happy to see the European IPO market back and functioning and hoping that more sellers will launch after Easter — or even before.

  • 21 Mar 2012

“When a deal is 15 times covered and trades 20% up [intra-day] the valuation was obviously attractive,” said one syndicate head away from the deal. “But given the paucity of IPOs in the last nine months, it is right to err on the side of caution.

“What’s striking is ...

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