Posted on

Digicel not progressing with IPO at this time


PR

Digicel not progressing with IPO at this time

Social Share
Share

HAMILTON, Bermuda– Digicel has decided not to proceed with its planned initial public offering at this time. 

In a release, the company said despite significant support for the IPO from a high quality group of investors during the marketing period, current conditions, particularly in emerging markets, have impacted transaction momentum over recent days.

Chairman Denis O’Brien said: “Given our growth outlook, an IPO for Digicel was optional and predicated on achieving fair value for the company.  Recent volatility in equity markets has seen a number of IPOs listing at a discount to their signalled price range and this was a less attractive route for us.”

“Digicel is now at a key juncture in our growth story following a $1.5 billion investment programme over the past three years; we generate strong and growing free cash flow and we have no material debt maturities until 2021. Our growth plans remain unchanged and we remain in a strong position to exploit areas of interest in: data, business solutions, cable TV and broadband,” he said. (PR)

LAST NEWS