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GERMANY - Versatel to float tomorrow

  • Emanuel
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Apax Partners is listing its portfolio company Versatel AG on the Frankfurt Prime Standard on Friday 27 April. The company is issuing up to 28.577 million shares with a subscription price set at EUR 29-36 per share. The IPO is expected to generate up to EUR 1bn, making it Germany’s largest flotation this year so far.

Apax Partners bought the German operations of Dutch-listed Versatel Telekom International MV from Swedish owner Tele2 in October 2005. In 2006, the financial investor merged Versatel with Tropolys. The same year, the company generated sales of EUR 666m and EBITDA of EUR 211.8m.
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