Saturday 17 February 2018

Digicel sets IPO price, aims to raise $2bn

Digicel owner Denis O'Brien
Digicel owner Denis O'Brien
Peter Flanagan

Peter Flanagan

Digicel, the communications giant controlled by businessman Denis O’Brien, could raise as much as $2.3bn (€2.06bn) when it floats on the New York Stock Exchange.

In a filing with US regulators, Digicel said it plans to sell just over 142 million shares at a price of between $13 and $16 per share.

At that price, the company would raise a maximum of $2.28bn.

In the filing, Digicel makes clear that the pricing and amount of shares offered may change ahead of the initial public offering, which is expected later this year.

While Digicel could raise as much as $2.28bn it is expected to raise between $1.8bn and $2bn.

Digicel has numerous interests in the telecoms industry, particularly in the Caribbean and elsewhere.

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