February 8, 2010

Hathway Cable gets new investors

by Rapid TV News

Hathway Cable’s upcoming IPO has attracted five institutional investors which together will take 18% of the available shares in the cable operator, according to reports.

Paying Rs240 per share, the anchor investors are: Franklin Templeton (2.08 million shares, for Rs500 million); DSP Blackrock (1.19 million shares, for Rs285 million); Reliance Capital trustee (416,675 shares for Rs100 million); Copthall Mauritius Investment (416,675 for Rs100 million) and Tree Line Asia Master Fund (890,675 for Rs214 million).

On Feb 9-11, Hathway is offering 20 million new shares, plus another 7.75 million from investors, for between Rs240-265 per share. The total issue constitutes around 19.4% of the company’s post-issue capital. About 60% of the shares will be sold to institutional buyers, non-institutional investors 10% and retail investors 30%.

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