We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks
Infonet - Leader of Managed Data Communicaton Services
An SI Board Since December 1999
Posts SubjectMarks Bans
241 5 0
Emcee:  Eric S. Type:  Unmoderated
Infonet Services Plans to Raise $710 Mln in IPO

WASHINGTON (Reuters) - Infonet Services Corp. plans to raise over $710 million in an initial public offering, the company said Wednesday.

The El Segundo, California, data communications company filed with the U.S. Securities and Exchange Commission for an offering of about 51.2 million shares in a projected price range of $18-$21 each.

The company, which plans to list its stock on the New York Stock Exchange, would offer 38,461,600 shares of Class B common stock, while selling stockholders -- including KDD Corp. of Japan, KPN Telecom NV of the Netherlands, Swisscom AG and Sweden's Telia AB, among others -- would offer 12,820,700 shares.

Infonet provides cross-border managed data communications services including remote access, intranet, multimedia and Internet services, to more than 1,150 corporations around the globe.

After the offering there would be about 469.5 million Infonet shares outstanding, putting its initial market capitalization at about $9.15 billion, based on a median $19.50 per share initial price.

The company expects to net $710.8 million from the IPO, which would be used to develop and expand its network infrastructure as well as for working capital and general corporate purposes, according to the filing.

Infonet would not receive any of the proceeds from the sale of shares by stockholders.

The underwriters have been allotted about 7.69 million extra shares to purchase in the event of heavy demand. Merrill Lynch & Co. and Warburg Dillon Read LLC are the joint global coordinators of the IPO.

The company also plans to list its shares on the Frankfurt Stock Exchange.
Previous 25 | Next 25 | View Recent | Post Message
Go to reply# or date (mm/dd/yy):
ReplyMessage PreviewFromRecsPosted
241BT to Buy Infonet in Deal Worth About $1B Monday November 8, 7:17 am ET biz.yahJakeStraw-11/8/2004
240Japanese Manufacturer Nitto Denko Migrates Its Global Network to Infonet MPLS IPJakeStraw-10/4/2004
239Infonet MobileXpress Becomes First Network with More Than 12,000 Active Wi-Fi HoJakeStraw-8/17/2004
238Infonet Becomes An Automotive Industry IP VPN ENX Certified Service Provider bizJakeStraw-7/20/2004
237JA, I wish I knew the answer to your question! :^)JakeStraw-5/10/2004
236Well Jake, since you are the only one keeping this thread alive. Maybe you knowJimieA-5/10/2004
235Infonet and Connexion by Boeing Announce Plans to Deliver ``Wi-Fi in the Sky'JakeStraw-5/10/2004
234Infonet Launches Global Videoconferencing Service, IP Video VPN Tuesday May 4, JakeStraw-5/5/2004
233UPM Selects Infonet to Optimize and Expand its Global Network Tuesday April 20,JakeStraw-4/20/2004
232Infonet Says Company Has Weathered ``Perfect Storm'' Monday March 15, 9JakeStraw-3/15/2004
231Infonet and KDDI Provide Managed IP Networking Services to Toyota Motor Europe TJakeStraw-3/9/2004
230Gearbulk Chooses Infonet for Its Global MPLS IP Network Tuesday February 24, 8:0JakeStraw-2/24/2004
229Infonet Announces Fiscal 2004 Third Quarter Results Thursday February 5, 4:01 pmJakeStraw-2/5/2004
228Infonet Receives License to Independently Provide Data Services in Turkey TuesdaJakeStraw-1/27/2004
227Infonet Deploys IP Platform for Bank Owned by the State of Luxembourg to Access JakeStraw-1/13/2004
226UCB Group Extends Its Long-Term Relationship With Infonet Tuesday January 6, 8:0JakeStraw-1/6/2004
225Cegetel Chooses Infonet To Extend Its Global Enterprise MPLS Offering Tuesday DeJakeStraw-12/9/2003
224Infonet Provides Real-Time Performance Monitoring of IT Software and Systems ViaJakeStraw-12/2/2003
223Infonet Announces Managed Site Protection and Vulnerability Analysis Services SeJakeStraw-11/18/2003
222Infonet and GRIC Communications Expand Relationship to Include Global Wi-Fi and JakeStraw-11/11/2003
221Infonet Announces Fiscal 2004 First Half and Second Quarter Results Thursday NovJakeStraw-11/7/2003
220Yesterday, October 28, 2003, YAHOO-JAPAN listed on the First Section of the Tokyquick_thinking-10/29/2003
219Infonet Maintains Position in Leader Quadrant in Gartner's Latest Global NetJakeStraw-10/28/2003
218Siemens Business Services Partners With Infonet in Telecommunications OutsourcinJakeStraw-10/23/2003
217Infonet Wins Telemark Consulting's ``Best in Class'' As InternationaJakeStraw-10/22/2003
Previous 25 | Next 25 | View Recent | Post Message
Go to reply# or date (mm/dd/yy):