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Intelsat prepares for New York float
April 3, 2013 10.04 Europe/London By Julian Clover
Intelsat Global Holdings is to launch an IPO on the New York Stock Exchange that it hopes will raise $542.5 million.
The company, currently registered in Luxembourg, will become plain Intelsat SA before moving ahead with the offer of 21.7 million shares of common stock.
The underwriters will have a 30-day option to buy an available 450,000 additional preferred shares to cover any excess demand.
Intelsat is currently owned by private equity group BC Partners, which last month slashed to size of its IPO from $1.75 million to $750 million.
The former international organization was taken private in July 2001 and acquired by Serafina Acquisition, owned by BC Partners, Silver Lake and others, in 2008.
As of December 31, 2012 it held $15.9 billion in debt.
April 3, 2013 10.04 Europe/London By Julian Clover
Intelsat Global Holdings is to launch an IPO on the New York Stock Exchange that it hopes will raise $542.5 million.
The company, currently registered in Luxembourg, will become plain Intelsat SA before moving ahead with the offer of 21.7 million shares of common stock.
The underwriters will have a 30-day option to buy an available 450,000 additional preferred shares to cover any excess demand.
Intelsat is currently owned by private equity group BC Partners, which last month slashed to size of its IPO from $1.75 million to $750 million.
The former international organization was taken private in July 2001 and acquired by Serafina Acquisition, owned by BC Partners, Silver Lake and others, in 2008.
As of December 31, 2012 it held $15.9 billion in debt.