Denis O’Brien’s Digicel to float on New York Stock Exchange

26 Jun 2015

Denis O'Brien's Digicel has filed for an IPO on the New York Stock Exchange.

Denis O’Brien’s Caribbean and South Pacific-focused telecoms company Digicel has filed to IPO on the New York Stock Exchange and plans to raise up to US$200m.

The filing document mentions raising around US$200m but this is understood to be a placeholder figure, meaning the IPO could have a different outcome.

Digicel provides mobile communications services to 13.6m subscribers in 31 markets across the Caribbean and South Pacific regions. This includes more than 11m in the Caribbean and more than 3m in the South Pacific.

It is understood that the number of shares to be offered and their price ranges have yet to be determined.

“Digicel intends to use the net proceeds of the offering for general corporate purposes, including capital expenditures and acquisitions and to repay existing indebtedness.

“Digicel intends to list its Class A common shares on the New York Stock exchange under the ticker symbol ‘DCEL’,” the company said.

Caribbean image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years