MetroPCS raises $1.15 billion in IPO, biggest to date in U.S.
Dallas-based cell-phone service provider MetroPCS Communications has raised $1.15 billion in its initial public offering, the largest U.S. IPO of the year.
The offering priced at $23 per share, above the forecast range of $19 to $21 a share. Only 14 percent of the company’s shares were floated, and the IPO gives the company a market capitalization of almost $8 billion.
MetroPCS offers flat monthly rates for unlimited local calls.
The company’s earliest venture backers — Accel and… Continue Reading
MetroPCS files $1.125 billion IPO, giving Accel Partners big boost
MetroPCS Communications, of Dallas, has filed to raise up to $1.125 billion in an initial public offering.
It is significant because only six IPOs worth $1 billion or more were seen in 2006, out of a total of 200.
The company, which provides wireless broadband personal communication services, claims 2.6 million subscribers, and reported net income of $70.6 million on revenue of $1.1 billion in the nine months ended Sept. 30.
Backers of the company include Accel Partners… Continue Reading