Shares in German cable operator Tele Columbus rose on their debut on Friday, tapping into a buoyant market a day after the European Central Bank said it would pump fresh money into the euro zone economy. In Europe's first IPO of 2015, the stock started trading at 10.70 euros ($12) compared with its 10 euro issue price. By 1000 GMT, it was up 11.9 percent at 11.19 euros.
Tele Columbus's owners, a group of investment funds which took over following a financial restructuring in 2010, tried but failed to sell the company in the past, with a deal with rival Kabel Deutschland collapsing in 2013 due to regulatory concerns.
Tele Columbus had cancelled plans for an initial public offering in October, as European shares slumped on prospects of a US interest rate rise and a worsening economic outlook in Germany. But the plan was revived this month.
According to stock market analysts, Tele Columbus may qualify for inclusion in Germany's technology-oriented TecDAX or the small cap SDAX index as early as June.
Following a lull in IPO activity in Europe in late 2014, equity investors are now again receptive to new listings, bankers said.
They forecast record highs for markets after the ECB on Thursday launched a government bond-buying programme to revive a sagging economy.
"The IPO benefited from strong equity markets following the ECB's QE announcement," one of the bankers who organised the flotation said.
Tele Columbus, Germany's third-largest cable group behind Liberty Global's Unitymedia Kabel BW and Vodafone's
Kabel Deutschland, had offered its shares in a price range of 8 to 12 euros.
If an over-allotment option is exercised in full, Tele Columbus will have sold shares worth 477 million euros. The initial free float will be 72 percent.
Tele Columbus plans to use the proceeds to reduce debt.
While some of its owners cashed out and sold shares, others including investment fund York remain invested.