Inmarsat to list on LSE

1 Jun 2005

Inmarsat Group Holdings – a satellite services provider to government agencies and large corporations – has revealed plans to list its shares at between 215p and 245p on the London Stock Exchange, commencing June 17. It hopes to raise USD690 million in an IPO valuing the satellite telecoms group at just over GBP1 billion. The company said it intends to use the proceeds to refinance part of its current debt. How the IPO fares remains to be seen; PanAmSat Holding Corp’s listing fell more than than 3% when it floated in New York earlier this year while New Skies Satellites’ IPO was cut in price before its launch.

United Kingdom