Digicel Group Files IPO Of Up To $200 Mln

(RTTNews) - Digicel Group Limited, a provider of communications services in the Caribbean and South Pacific regions, filed with the U.S. Securities and Exchange Commission with respect to its initial public offering of up to $200.00 million shares of Class A common shares.

The company neither disclosed details about the number of shares it intends to offer nor its price range.

But, the company said it plans to apply to have the Class A common shares listed on the New York Stock Exchange under the symbol "DCEL."

The company noted that it plans to use its net proceeds of the offering for general corporate purposes, including capital expenditures and acquisitions and to repay existing indebtedness. It does not expect that any proceeds will be used to fund dividends to common shareholders.

The company provide a comprehensive range of mobile communications, Business Solutions, Cable TV & Broadband and other related products and services to retail, corporate and government customers.

Digicel currently provides mobile communications services to 13.6 million subscribers in 31 markets with an aggregate population of approximately 32 million people.

In the year ended March 31, 2015, Digicel generated total revenue of $2.8 billion, a net loss of $157.6 million and Adjusted EBITDA of $1.2 billion, representing an Adjusted EBITDA margin of 42.3%.