Patience pays off on Ziggo IPO

The unusual IPO story of Ziggo has presented yet another boost to its private equity backers as overwhelming investor demand accelerated yesterday’s share offering from a planned 18 million to 29 million ordinary shares - trading at a premium of 34%. The latest sale brings backers Warburg Pincus and Cinven returns of more than 4x and 2.7x respectively, according to sources close to the situation.