Deals of the Year 2012: Ziggo IPO
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Deals of the Year 2012: Ziggo IPO

Size €925 million IPO
Date October 2012
Joint global coordinators and joint bookrunners JPMorgan, Morgan Stanley
Joint bookrunners UBS, Deutsche Bank
Joint lead managers ABN Amro, HSBC, Nomura, Rabobank
Co-lead manager Société Générale CIB
Sponsor adviser STJ Advisors
return to the Global Deals of the Year index

If Telefónica Deutschland’s €1.5 billion IPO in October last year gave hope to equity capital markets bankers that a resurgence in large European offerings was back on the cards, it was a smaller but perhaps more perfectly formed transaction in March that actually helped set a more ebullient tone.

Although Telefónica Deutschland’s IPO was the biggest in Europe last year and a blowout success to boot, the €925 million IPO of Ziggo, the Dutch cable operator owned by private equity sponsors Cinven and Warburg Pincus, arguably enabled the October deal and others before it to be sold at all.

The European IPO market, after all, had effectively been in total shutdown during the previous nine months, with no IPO over $50 million having been priced since July 2011 and market confidence fractured by a string of companies, both big and small, trying but ultimately failing to list.