Romania-based RCS & RDS plans December IPO

By FNE Staff

    Romania-based pay TV provider RCS & RDS S.A. has announced plans to list on the London Stock Exchange.

    The company, which has nearly 5 million subscribers in the Czech Republic, Croatia, Hungary, Romania, Slovakia and Serbia, seeks to sell about 15% of its value as global depositary receipts to raise a reported $500 million (€355 million). That would give it a total market cap of about $3.5 billion (€2.48 billion).

    RCS & RDS also provides broadband internet, fixed-line telephony, DTH satellite television and 3G mobile telephony services.

    The initial public offer is expected in December.