HAMILTON, Bermuda--(BUSINESS WIRE)--Digicel Group Limited (Digicel), a leading provider of communications services in 31 markets in the Caribbean and South Pacific regions, announced today that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering of its Class A common shares. The number of shares to be offered and the price range for the proposed offering have not been determined. 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 does not expect that any proceeds will be used to fund dividends to common shareholders. Digicel intends to list its Class A common shares on the New York Stock Exchange (NYSE) under the ticker symbol "DCEL."
J.P. Morgan Securities LLC, UBS Securities LLC and Citigroup Global Markets Inc. will act as joint book-running managers of the offering. Barclays Capital Inc. and Credit Suisse Securities (USA) LLC will act as bookrunners.
The offering will be made only by means of a prospectus. A copy of the preliminary prospectus related to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-866- 803-9204; UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, or by telephone at 1-888-827-7275; or Citigroup Global Markets Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Digicel
Digicel Group Limited (Digicel) is a leading provider of communications services in 31 markets in the Caribbean and South Pacific regions, where the company provides a comprehensive range of Mobile Communications, Business Solutions, Cable TV & Broadband and other related products and services to retail, corporate (including small- and medium-sized enterprises) and government customers.
Digicel offers HSPA+ or long-term evolution (LTE) mobile technology (4G) in 30 markets and holds the number one mobile market position in 21 markets, with a mobile subscriber market share of more than 50% in 20 markets, as determined by internal company data.
Digicel launched mobile services in Jamaica, its first market, in 2001 and became the market leader there within 15 months of launch, based on a strategy that Digicel has since replicated successfully in several other markets. Digicel’s mobile subscriber base has grown from 0.4 million as of March 31, 2002 to 13.6 million subscribers as of March 31, 2015, representing a compound annual growth rate of 32.3%.
Digicel runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Jamaica, Haiti, Papua New Guinea and Trinidad and Tobago which focus on educational, cultural and social development programs. Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams and individuals including the world’s fastest man, Usain Bolt, and Special Olympics teams throughout these regions. Digicel also sponsors the West Indies cricket team.
Forward Looking Statements
The statements contained in this release that are not historical facts are forward-looking statements. These forward-looking statements are based on Digicel’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors, many of which are beyond Digicel’s control. Any forward-looking statement in this release speaks only as of the date of this release. Digicel undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.
