Digicel looking for up to USD2bn from IPO this month

15 Sep 2015

Irish-owned telecoms group Digicel, which provides mobile services in 31 markets across the Caribbean, Latin America and Asia, expects to raise between USD1.5 billion and USD2.0 billion through its upcoming initial public offering (IPO), Bloomberg writes, citing people with knowledge of the matter. According to the sources, Digicel is planning to launch the IPO later this month, after the Federal Reserve reviews interest rates next week, although the schedule may change depending on the Federal Reserve’s decision. The group intends to use the proceeds from the sale to fund CAPEX, acquisitions and to pay down debt. Digicel’s total revenue for the year to end-March 2015 was USD2.8 billion, recording a net loss of USD157.6 million.

Jamaica, Digicel Group