Cable company Ziggo launched on the Amsterdam stock exchange on Wednesday at €18.50 a share but the opening price was up 11% on that at €21.20.

In particular, pension funds and asset managers have subscribed to the share offer in large numbers, the Financieele Dagblad says. Insiders told the paper the issue was six times oversubscribed, allowing Ziggo to opt for the upper end of the bandwidth price.
The IPO will raise over €800m, but could be as much as €925m if the greenshoe option is exercised.
Ziggo is the biggest cable television firm in the country with some three million subscribers. It was formed between 2005 and 2007 through the merger of Casema, Multikabel and Essent Kabelcom.