(Telecompaper) Swedish cable operator Com Hem announced plans to list on the stock exchange in Stockholm and raise up to SEK 5.5 billion. The initial public offering will be mainly new shares, as well as some sold by its controlling shareholder BC Partners. The proceeds will be used to reduce debt and provide additional financial flexibility. Com Hem aims to reduce its net debt to 4.15 times adjusted EBITDA by mid-2014 and 3.5-4.0 times over the medium term. Com Hem is the largest cable operator in Sweden with approximately 1.83 million or 39 percent of Swedish homes connected. It claims second place on the country's broadband market and offers download speeds of up 500 Mbps across almost all its network. Since late 2013, it also offers the Tivo box to customers and recently acquired the B2B operator Phonera Foretag.