Cybernet Internet Services International Inc, the US holding company of German internet service provider and would-be telco Cybernet AG, starts bookbuilding tomorrow for an initial public offering, followed by a listing on Frankfurt’s Neuer Markt, with trading in its stock starting on December 9. The holding company’s shares are already traded on Nasdaq, as well as in the over-the-counter market in Berlin and Munich, but now it will be going for a full German stock exchange listing. The company intends to use proceeds of the IPO ($33m-$40m) to fund its expansion into other European markets, with France as its first priority. Cybernet operates as an ISP primarily for the corporate market, in Germany, Austria and northern Italy. The company also holds a license to run a full range of telecoms services in Germany. The bank building Cybernet’s book is the Berliner Effektenbank. The volume of shares on offer in the operation will be 1.5 million, with the price range set at DM38.00-DM46.00 ($22.25-$26.93), with bookbuilding going on from November 26 until December 1.
