NEWS & VIEWS

Global private equity and venture capital news and research

Carlyle-backed Commscope raises $577m in IPO priced below expected range

28 Oct 2013

shares stocks IPOCarlyle-backed telecommunications equipment provider CommScope raised about $577m through its IPO on Friday despite pricing it below its expected range.

The company had hoped to list on the Nasdaq exchange by selling shares at between $18 and $21 each, but settle for parting with about 38.5 million shares at $15 each.

Carlyle offered about 7.6 million shares in the business in the listing, raising just over $115m.

The firm bought into CommScope in early 2011 in a deal worth about $3.9bn.

CommScope previously said it planned to use the proceeds to redeem a portion of its 8.25 per cent senior notes due 2019 and to pay related interest and expenses.

JP Morgan, Deutsche Bank Securities and BofA Merrill Lynch were lead book-running managers for the IPO.

Copyright © 2013 AltAssets

FUNDRAISING & INVESTOR RELATIONS


Legals & Terms of UsePrivacy Policy


AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014