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JAMAICA OBSERVER — Telecoms giant Digicel Group Limited on Friday announced that it will be launching an Initial Public Offering (IPO) on the New York Stock Exchange from which it expects to raise $200 million.
Digicel said in a release Friday that it has publicly filed a registration statement on Form F-1 with the US Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its Class A common shares under the ticker symbol “DCEL.” The number of shares to be offered and the price range for the proposed offering have not been determined. The offering will be made by means of a prospectus.
Digicel said it intends to “use the net proceeds of the offering for general corporate purposes, including capital expenditures and acquisitions, and to repay existing indebtedness”. The company also added that it doesn’t expect that any proceeds will be used to fund dividends to common shareholders.
JP Morgan Securities LLC, UBS Securities LLC and Citigroup Global Markets Inc will act as joint book-running managers of the offering. Barclays Capital Inc and Credit Suisse Securities (USA) LLC will act as book runners.
Digicel Group Limited is a leading provider of communications services in 31 markets in the Caribbean and South Pacific regions, where the company provides a comprehensive range of mobile communications, business solutions, cable TV and broadband and other related products and services to retail, corporate (including small- and medium-sized enterprises) and government customers.
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