At that price, the company would raise a maximum of $2.28bn.
Digicel Group Ltd., the mobile-services company owned by Irish billionaire Denis O’Brien, plans to raise as much as $2 billion from an initial public offering, in what could be the second-biggest U.S. IPO this year.
Digicel DCEL, +0.00% said in a regulatory filing that it is looking to sell about 124 million Class A shares at $13 to $16 apiece.
Digicel has a wide range of interests in the telecoms industry, serving over 13 million customers, with many in the Caribbean and South Pacific.
Digicel intends to use the net proceeds of the offering for general corporate purposes, including capital expenditures and acquisitions, and to repay existing indebtedness.
Digicel reported revenue of $2.794B for the fiscal year ending on March 31, 2015. O’Brien will be able to exercise voting rights over about 94 percent of the company through his Class B shares after the IPO, according to the statement.
Founded by Mr O’Brien in 2000, Digicel launched mobile services in Jamaica, its first market, in 2001. Revenue came in at $669.7M for the three months ending on June 30.
The underwriters for the offering are JPMorgan, UBS Investment Bank, Citigroup, Barclays, Credit Suisse, Deutsche Bank and Davy Group.