Bankers claim strong demand for Altice flotation - The first test of 2014

Bankers have just said that their books have been covered for the upcoming £1bn plus issue of shares in Altice, which owns French and Belgian cable companies and mobile operations in Israel. It is the first Initial Public Offering (IPO) to price in Europe in 2014.

Although the issue has a few days of marketing left to go, bankers have said they now have sufficient demand for the issue to fly.

The Altice share issue is expected to spark off a healthy year for corporate deals, building on a better year for IPOs last year. In London there are several issues, ranging from Fat Face to Pets at Home to Poundland, that are set to be officially marketed for sale.

One banker used the term "FOMO" to describe the sentiment in the market. "FOMO, the fear of missing out, is giving the market its mojo."

Altice has not announced the price yet. The range is between €24.75 and €31.25.

Altice agreed in November to buy Orange's mobile unit in the Dominican Republic for $1.4 billion and touted a pipeline of possible deals in a pitch to investors this month. It also owns 40 percent of French cable operator Numericable and the largest pay-TV company in Israel.

Goldman Sachs and Morgan Stanley are running the offering and acting as joint bookrunners along with Credit Suisse, Deutsche Bank and HSBC.