Oct. 29 (Bloomberg) -- Numericable SAS, the cable provider attempting the biggest initial public offering in France in four years, received sufficient demand to cover all the available shares in the 652.5 million euro ($900 million) sale, said two people with knowledge of the matter.
There is also demand to cover a so-called overallotment option, the people said, asking not to be identified while the sale process is on. The IPO opened for subscriptions yesterday, with shares being offered at 20.30 euros to 24.80 euros apiece.
Numericable’s sale is the latest indication of demand for Europe’s cable assets and as investors return to the region’s markets because of an economic recovery and an easing euro debt crisis. The last listing of similar size in Paris was in December 2009, when automotive distributor CFAO SA raised more than 800 million euros. Carlyle Group LP and Cinven Group Ltd. are selling Numericable stock valued at about 402.2 million euros, accounting for the majority of the shares offered.
French floormaker Tarkett SA is also seeking a listing in Paris this quarter. The volume of IPOs on European exchanges this year has nearly doubled to about $19 billion, over the same period in 2012, according to data compiled by Bloomberg.
JPMorgan Chase & Co. and Deutsche Bank AG are managing Numericable’s IPO.
--Editors: Kenneth Wong, David Risser