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Virgin Mobile Files for IPO

Sep 25, 2007, 12:53 PM by (staff)

MVNO Virgin Mobile USA has filed for an initial public offering to raise cash to pay debts and fund operations. It plans to sell 27.5 million shares of stock at $15 to $17 per share and raise $467.5 million. Virgin Mobile is a youth-focused MVNO that is a partnership between Sprint and the Virgin Group. The IPO would reduce both companies' ownership stakes in the MVNO. Virgin had 4.83 million customers as of June 30, and made a profit of $26.5 million in the first half of the year. Virgin will use the money to pay $45 million that it owes Sprint and $150 million it owes to other creditors.

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source: Reuters

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Comments

This forum is closed.

This forum is closed.

h_aguilar84

Sep 25, 2007, 1:26 PM

Good Investment?

Let's ask the guru of Wall St. What say you nextel 18?

nextel18

I think it is a good investment, although if you are willing to invest right now when the stock becomes public (VM is the ticker), I think it is best to wait. Revenue and profits look good. In 2006, it said they had $36m in net loss with $1.1 billion....
(continues)

...

muchdrama

h_aguilar84 said:
Let's ask the guru of Wall St. What say you nextel 18?

For the Love of God, people...Nextel18 is NOT a Wall Street guru!

Please don't base your investment plans on his advice!

...

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