(Telecompaper) French cable operator and MVNO Numericable is looking to raise around EUR 652.5 million during its upcoming initial public offering, Bloomberg reported. Numericable is offering the shares at EUR 20.30-24.80 per unit. Carlyle Group and Cinven Group are selling stock valued at about EUR 402.2 million, accounting for the majority of shares for sale. Pricing will be decided on 7 November, with trading scheduled to begin the following day in Paris. Private-equity firm Altice will become Numericable's biggest shareholder with a 30 percent stake after the IPO. A greenshoe has also been granted, so that Carlyle and Cinven may increase the Numericable shares they sell by 15 percent. Should those shares be fully subscribed, Carlyle's holding will fall to 24.5 percent, and Cinven's to 15.2 percent. JPMorgan Chase and Deutsche Bank are managing the share sale.