Copying and distributing are prohibited without permission of the publisher
Avaya may hold share offering in April
17 February 2012
Private equity companies planning IPO of equipment maker Avaya in April to raise $1bn
Read more:
Avaya
private equity
IPO
share flotation
Silver Lake
TPG Capital
Equipment maker Avaya could hold its initial public offering of shares as early as April, reported Bloomberg citing sources. While the company had filed for an IPO in June 2011, it had delayed the sale due to volatility in stock markets which kept investors at bay, the report added.
The company, which separated from Lucent in 2000, is owned by private-equity firms Silver Lake and TPG Capital.
The firm is hoping to raise $1 billion from the IPO and has appointed Morgan Stanley, Goldman Sachs and JPMorgan Chase to lead the IPO. Avaya has not revealed a price range or the number of shares to be offered. GTB
Further reading from Global Telecoms Business:
Former executives mourn the final demise of Nortel 08 Jul 2011
Avaya-Nortel $900m deal gets Canada nod 07 Dec 2009
Avaya to pay $915m for Nortel unit 14 Sep 2009
Deals of the day: Avaya, Ericsson and TDC in M&As 05 Jun 2007