Phone Scoop

printed May 22, 2015
See this page online at:

Home  ›  News  ›

Virgin Mobile Files for IPO

Article Comments  14  

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.

from Reuters
more info at Information Week »



Forum Options

This forum is closed.

Subject Author Date
Good Investment? h_aguilar84 Sep 25, 2007, 1:26 PM
Page  1  of 1

This forum is closed.

Subscribe to Phone Scoop News with RSS Follow @phonescoop on Twitter Phone Scoop on Facebook Phone Scoop on Google+ Subscribe to Phone Scoop on YouTube Follow on Instagram


All content Copyright 2001-2015 Phone Factor, LLC. All Rights Reserved.
Content on this site may not be copied or republished without formal permission.