The British Sky Broadcasting offer price has been set at 256p, valuing the satellite group at around £4.4 billion. BSkyB said that the share offer has been oversubscribed five-fold. Sam Chisholm, chief executive, said, “The response from investors all over the world has been overwhelming.” At the offer price the issue’s net proceeds are estimated at £842m.
Anyone who applied for up to £50,000 worth of shares has been allocated the full amount, but those requesting more were given a proportionate share.
Conditional dealings will begin today in London and New York, but normal dealings will not begin until next week.
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