UPDATE 1-Usain Bolt's sponsor Digicel files for U.S. IPO
(Adds IPO details, company background)
June 26 (Reuters) - Digicel Group Ltd, the Caribbean telecommunications company that sponsors sprinters Usain Bolt and Shelly Ann Fraser-Pryce, filed for an initial public offering of Class A common stock.
The company, founded by Irish billionaire Denis O'Brien, said J.P. Morgan, UBS Investment Bank and Citigroup were among the underwriters for the IPO. The media tycoon also chairs Digicel's board.
Digicel said it currently provides mobile communications services to 13.6 million subscribers in 31 markets in the Caribbean and South Pacific regions, up from 400,000 on March 31, 2002.
Digicel, which also sponsors the West Indies cricket team, intends to list its Class A common stock on the New York Stock Exchange under the symbol "DCEL", it told U.S regulators in a preliminary prospectus on Friday. (1.usa.gov/1NiKE0m)
The company reported a loss of $157.6 million on revenue of $2.79 billion for the year ended March 31, compared with a profit of $43.5 million on revenue of $2.75 billion a year earlier.
The filing included a nominal fundraising target of $200 million, but did not reveal how many shares the company planned to sell or their expected price.
The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO could be different. (Reporting By Sudarshan Varadhan; Editing by Sriraj Kalluvila and Maju Samuel)
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