Ziggo jumps on IPO day

SHARES in Dutch cable company Ziggo rose over 18 per cent in its debut on the Amsterdam stock exchange yesterday – despite advisers pricing the initial public offering (IPO) at €18.50, the top end of its expected range.

Ziggo joins Swiss group DKSH in ending an eight-month hiatus of big European listings.

Darrell Uden of UBS worked on the deal and told City A.M. that Ziggo’s success should spur further activity.

“These benchmark transactions have been greatly watched by the market at large as indicators of IPO activity for the rest of the year. Their success should signal many more companies electing to access the equity capital markets in Europe in 2012,” Uden explained.

Private equity firms Warburg Pincus and Cinven were the biggest beneficaries of the issue after helping to build Ziggo into a major player.