IPO

Intelsat Global files for IPO of up to $1.75 billion

Reuters News
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Posted: May 18, 2012 9:56 PM

(Reuters) - Intelsat Global Holdings S.A., which provides satellite communications services, filed with U.S. regulators on Friday to raise up to $1.75 billion in an initial public offering of common stock.

The Luxembourg-based company told the U.S. Securities and Exchange Commission in a preliminary prospectus that Goldman Sachs, J.P. Morgan and Morgan Stanley were underwriting the IPO.

The company, posted a net loss of $400 million on revenue of $2.6 billion for the year ended December 31, 2011, according to the regulatory filing.

The filing did not reveal how many shares the company planned to sell or their expected price.

The company, which will change its name to Intelsat S.A before it goes public, intends to list its common stock on the New York Stock Exchange under the symbol "I".

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

(Reporting by Sharanya Hrishikesh in Bangalore; Editing by Sriraj Kalluvila)