Virgin Mobile Files for IPO
Sep 25, 2007, 12:53 PM by (staff)
MVNO Virgin Mobile USA has filed for an initial public offering to raise cash to pay debts and fund operations. It plans to sell 27.5 million shares of stock at $15 to $17 per share and raise $467.5 million. Virgin Mobile is a youth-focused MVNO that is a partnership between Sprint and the Virgin Group. The IPO would reduce both companies' ownership stakes in the MVNO. Virgin had 4.83 million customers as of June 30, and made a profit of $26.5 million in the first half of the year. Virgin will use the money to pay $45 million that it owes Sprint and $150 million it owes to other creditors.
more info at Information Week »
Let's ask the guru of Wall St. What say you nextel 18?
For the Love of God, people...Nextel18 is NOT a Wall Street guru!
Please don't base your investment plans on his advice!