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Last Updated: Wednesday, 30 November 2005, 08:37 GMT
Eutelsat reveals flotation detail
Computer picture of a Eutelsat Eurobird communication satellite
Eutelsat is making its second attempt at an IPO
The world's third-largest satellite operator, Eutelsat, has announced details of its initial public offering after an earlier plan fell through.

The firm will raise 860m euro (590m; $1.0bn) in the flotation, which shares selling at 12 euros a share, at the low end of its indicative price range.

A month ago, tricky market conditions led it to cancel a flotation attempt.

Shares in Eutelsat, behind Intelsat and SES in the satellite stakes, are due to start trading in Paris on 2 December.

The firm owns 23 satellites and transmits 1,700 television channels across Europe, the Middle East and Africa, including BBC World, CNN and Al Jazeera.

After the flotation, Eutelsat will have a stock market value of about 2.5bn euros, including the 860m euros of new capital.

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