Patrick Drahi, founder and controlling shareholder of the the telecommunications group Altice (centre), rings a ceremonial bell marking the IPO of the company on the New York Stock Exchange shortly after the opening bell in New York, June 22, 2017.
This was the year's second biggest IPO, trailing Snap which raised $3.4 billion in March.
Altice NV, however, has seen its European-listed shares grow by around 20% this year.
Altice USA, which reported a net loss of $76.2 million for the three months ended March 31, expects to use proceeds from the offering to pay down debt of almost $21 billion.
Now the fourth-leading US cable operator, Altice USA has clearly stated its intentions to acquire more US cable companies. BC Partners and CPPIB have granted the underwriters a 30-day option to purchase up to 7,781,110 additional shares of Class A common stock.
Altice USA plans to list on the NYSE under the symbol ATUS.
Altice is selling 12.07 million shares, for proceeds of United States dollars 362.1 million, and its shareholders BC Partners and the Canada Pension Plan Investment Board are selling the remaining shares in the IPO from their existing holdings.
The Netherlands-based cable provider acquired and merged two telecoms, Cablevision and Suddenlink Communications in order to start its U.S. offering. Pursuant to the offering, Draghi is set to own 70.3 percent of the outstanding shares and 98.3 percent of the voting rights in the company, thanks to a separate class of shares called Class B shares, each of which is entitled to 25 votes compared to 1 for Class A shares, which are being now offered.
As The Wall Street Journal noted, investors are betting on Altice's recent track record.
That would mean election officials would get, on a priority basis, cybersecurity help. "It has been a very good backup for us". FESSLER: But with democracy under attack, lawmakers said they were frustrated by the lack of information.
Players who already played The Crew will be eligible for the Crew Rewards Program , offering up to 18 vehicles in The Crew 2 . The first 3 awards are available right now: it's the FORD MUSTANG GT 2015, the DUCATI DIAVEL and the MASERATI GRAND TURISMO.
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