Eircom to be valued at €1.3bn for refloat

EIRCOM has confirmed that it will be valued at up to €1.3 billion when it refloats on the stock exchange later this month.

The company yesterday published its prospectus, which gives detailed information on the initial public offering. Eircom shares will begin trading at between €1.48 and €1.75.

The IPO will raise a total of €831 million for the company and its current shareholders with e300 million of this going to Eircom.