[October 06, 2015] |
|
Digicel Not Progressing IPO at This Time
Digicel (News - Alert) has decided not to proceed with its planned IPO at this time.
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.
Commenting, Denis O'Brien, Chairman, Digicel 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."
About Digicel
Digicel Group Limited (Digicel) 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 & Broadband and other related products and
services to retail, corporate (including small- and medium-sized
enterprises) and government customers.
Digicel offers HSPA+ or long-term evolution (LTE (News - Alert)) mobile technology (4G)
in 30 markets and holds the number one mobile market position in 21
markets, with a mobile subscriber market share of more than 50% in 20
markets, as determined by internal company data.
Digicel launched mobile services in Jamaica, its first market, in 2001
and became the market leader there within 15 months of launch, based on
a strategy that Digicel has since replicated successfully in several
other markets. Digicel's mobile subscriber base has grown from 0.4
million as of March 31, 2002 to 13.6 million subscribers as of March 31,
2015, representing a compound annual growth rate of 32.3%.
Digicel runs a host of community-based initiatives across its markets
and has set up Digicel Foundations in Jamaica, Haiti, Papua New Guinea
and Trinidad and Tobago which focus on educational, cultural and social
development programs. Digicel is the lead sponsor of Caribbean, Central
American and Pacific sports teams and individuals including the world's
fastest man, Usain Bolt, and Special Olympics teams throughout these
regions. Digicel also sponsors the West Indies cricket team.
For more information, visit www.digicelgroup.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20151006006893/en/
[ Back To Mobile World Congress's Homepage ]
|