British Sky Broadcasting’s flotation is to get under way next week, with the issue of a pathfinder prospectus. The flotation, which will offer 20% of the share capital is expected to raise anywhere between £2bn and £5bn.
Smaller investors are being particularly targeted, with high street banks signed up to handle the offer. Subscribers are invited to apply with this month’s issue of Sky TV Guide. The offer price is expected to be set on Friday 25 November, when the formal public offer opens. It is due to close during the week beginning 5 December.
The broadcaster is seeking twin listings in London and New York. The flotation will coincide with that of the rival cable group TeleWest, whose offer price is due to be announced on Tuesday 22 November.
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