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Digicel files for IPO
2015-06-29 09:22:00| Telecompaper Headlines
(Telecompaper) Mobile operator Digicel has publicly for an initial public offering of shares in the US. The number of shares to be offered and the price range for the IPO have not been determined yet. Digicel said it will use the proceeds for general corporate purposes, including capital expenditure, acquisitions and paying off debt. Founder by Irish investor Denis O'Brein, Digicel provides communications services in 31 markets in the Caribbean and South Pacific regions, serving around 13.6 million mobile customers. The company claims the number-one position in 21 of its markets, with an over 50 percent share of customers in 20 markets. In the year to March 2015, Digicel generated a net loss of USD 157.6 million on revenues of USD 2.794 billion. Adjusted EBITDA totaled USD 1.181 billion, down from USD 1.223 billion a year earlier, and capital expenditure rose to USD 632.3 million from USD 485.4 million.
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Category:Telecommunications