012 Smile.Com raises USD80m in IPO

31 Oct 2007

An initial public offering by Israeli broadband company 012 Smile.Communications has raised USD80.1 million. The 6.675 million share offering sold for USD12 per share, compared with a forecast range of between USD14 and USD16.

According to TeleGeography’s GlobalComms 012 Smile.Com is one of the three largest providers of broadband access and ILD telephony services in Israel; as of 31 March 2007 012 Smile.Com provided services to approximately 960,000 households and approximately 93,000 business customers, including 85 of the 100 largest companies. Of the total, around 500,000 subscribed to broadband services with download speeds available at up to 6Mbps.

Israel, 012 Smile Telecom