US-based Trilogy International Partners (TIP), which owns telecoms assets in New Zealand (2degrees) and Bolivia (Viva), has unveiled plans to sell shares worth up to USD500 million over the next two years. As such, the group has filed ‘a preliminary short form base shelf prospectus’ with securities regulatory authorities in Canada (excluding Quebec), and a corresponding ‘shelf registration statement’ with the US Securities and Exchange Commission (SEC). After the registration documents take effect, TIP will hope to sell ‘common shares, warrants, units, debt securities, subscription receipts and share purchase contracts from time to time over a 25-month period’.
TeleGeography notes that TIP began trading on the Toronto Stock Exchange in February 2017 under the ticker symbol ‘TRL’. At that date 30% of the company entered free float, while 21% of the company’s shares were retained by the company’s founders, John Stanton, Theresa Gillespie and Brad Horwitz. At that time a 12% stake was held by Alignvest, 10% was owned by 2degrees and the remaining 27% was held by Trilogy LLC legacy shareholders.