Com Hem reportedly planning US$1 billion IPO

Swedish cable operator Com Hem is reportedly preparing for an initial public offering that could net the firm around US$1 billion (€730 million). 

According to a Bloomberg report, which cites two people with knowledge of the matter, the Scandinavian operator will start the process as early as next week.

The stock market flotation could value the firm at around US$3 billion, said Bloomberg.

Com Hem was first rumoured to have held preliminary talks about an IPO back with London-based private-equity firm BC Partners back in January.

A month later the firm named Com Hem’s executive vice-president, commercial and services, Anders Nilsson, as its new CEO after Tomas Franzén announced he would leave the company on March 6.

In its latest earnings call earlier this month, Com Hem posted revenues of SEK1.124 million (€124 million) for the quarter, flat year-on-year, with EBITDA also flat at SEK545 million. Com Hem’s net loss for the period widended from SEK59 million to SEK225 million.