MetroPCS hoping to raise USD1 billion from IPO

5 Apr 2007

Ahead of its forthcoming IPO, MetroPCS has set an estimated price range of USD19 to USD21 a share and said it plans to sell 50 million shares in a bid to raise USD1 billion. If the deal goes ahead as planned, it’ll be the largest IPO in the US so far in 2007.

According to TeleGeography’s GlobalComms database, MetroPCS launched mobile services in 2002 and now has over two million subscribers in the greater Miami, Tampa, Sarasota, Atlanta, San Francisco, Dallas, Detroit and Sacramento metropolitan areas. Its networks are based on CDMA2000 1x technology, with equipment supplied by Lucent Technologies. It offers customers flat-rate plans with no contract which provide unlimited anytime local and domestic long distance minutes. Having passed the one million subscriber milestone in 2004, it reached the two million mark in February 2006. For more information about GlobalComms, visit:

http://www.telegeography.com/products/global_comms/index.php

United States, Metro by T-Mobile (formerly MetroPCS)