TeleWest Ltd, the UK telephone and cable television company jointly owned by US West Inc and Tele-Communications Inc, plans a global share offering to raise ?350m, putting a phenomenal ?1,800m valuation on what is an embryonic business. It will seek a listing on the London Stock Exchange and a registration of American Depositary Shares on the Nasdaq market. It expects trading will start by early July, and some of the cash raised through the stock offering may be used to finance future acquisitions. Kleinwort Benson Securities and Goldman Sachs International will be underwriters for the offer.
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