Cable IPOs are rare. Those of so-called "cable overbuilders" or companies that build new cable infrastructure over the top of existing systems are rarer still. The lack of comps for this type of business was just one of the issues that plagued last week's US$310m IPO of WIDEOPENWEST. High leverage, the competitive landscape and slow near-term growth offered other reasons why the company with the distinctive NYSE "WOW" ticker failed to elicit that reaction from already price-sensitive IPO investors.
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