Commscope Holding Co, the telecommunications equipment firm, had set pricing terms for its IPO. The set price per share can catapult the company's enterprise value to USD3.9 billion three years after being privatized by the Carlyle Group. In that deal, the company was valued also at USD3.9 billion including its debt pile.
Commscope is projecting to offer 38.5 million shares pegged at a price between USD18 and USD21 per share. The total volume would be at USD800 million. At the IPO, the company would be selling 38.5 million shares while affiliates of the Carlyle Group would cover the remainder. This was confirmed by regulatory documentation filed by the telecoms company.
After the offer, Carlyle would still retain 75% shareholdings in CommScope even with the underwriter's option to purchase additional shares.
CommScope is intending to list the common shares of stock at the NASDAQ under the ticker symbil 'COMM'. Lead underwriters of the offer are JPMorgan, Deutsche Bank Securities and BofA Merill Lynch.
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