Intelsat’s massive IPO
Intelsat’s giant $1.75 billion IPO news was somewhat dwarfed by Facebook’s somewhat larger announcement on May 18th. Nevertheless the IPO filing, made with the SEC on May 18th, says that investment bankers Goldman Sachs, J P Morgan and Morgan Stanley were the offering’s bookrunners and underwriters.
The satellite operator, one of the two largest on the planet, will use some of the proceeds to pay down debt on its Intelsat Global Holdings SA ‘parent operating’ company, which these days is formally domiciled in Luxembourg, although operates out of Washington DC. After the IPO, and a new listing on the New York Stock Exchange, it will trade as Intelsat SA, and use the stock trading symbol ‘I’.
No specific date was given for the float.