Digicel to set price range for IPO
21 September 2015 |
Digicel is expected to set a price range for its initial public offering (IPO) this week, according to local reports.
The Caribbean operator filed for an IPO on the New York stock exchange in June this year, and is allegedly looking to raise between $1.5 and $2 billion.
Digicel said it was holding fire on indicating a price range until last week’s announcement from the Federal Reserve on interest rates, expecting market volatility to calm after this.
Sources claim that the company will list on the exchange a week to 10 days after a price range is revealed, which could now happen as early as today.
Digicel operates in 31 markets and plans to spend the proceeds from the IPO on capital spending, acquisitions – the company was looking at the Cook Islands earlier this year – and repaying its own debt.