Intelsat files plans for public offering

AP News
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Posted: May 18, 2012 5:52 PM
Intelsat files plans for public offering

Communications and satellite company Intelsat Global Holdings S.A has filed plans to go public and hopes to raise up to $1.75 billion in the initial public offering of its stock.

The company filed regulatory paperwork Friday with the U.S. Securities and Exchange Commission for its offering. It did not indicate its timing, how many shares it plans to sell or at what price.

Intelsat is based in Luxembourg and operates the world's largest satellite service business. It has posted losses for the past three years and revenue has increased only incrementally from $2.51 billion to $2.59 billion during that time.

The company will rename itself to Intelsat SA after its debut. It plans to trade under symbol "I" on the New York Stock Exchannge.