BILLIONAIRE DENIS O’BRIEN’S Caribbean communications giant Digicel is planning an IPO in New York.
Paperwork, filed with US authorities today, shows the company wishes to raise $200 million but that figure is only a ‘holding’ number and will change as the event gets closer.
Digicel is the largest communications service in the Caribbean and South Pacific region, providing mobile services to 13.6 million customers in 31 markets.
Latest accounts show a total revenue of $2.8 billion in the year to 31 March 2015, a net loss of $157.6 million.
It is the market leader in mobile phone services in 21 countries across the regions, including Jamaica, Bermuda, Haiti and Trinidad and Tobago.
Digicel now looks set to float its stock on the New York Stock Exchange. The number of shares and the price range is not yet known, but the expected total figure raised should be much higher than the $200 million cited in today’s forms to the Securities and Exchange Commission (SEC).
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