Digicel not progressing IPO at this time

Digicel not progressing IPO at this time

Tuesday 6th October 2015 – Hamilton, Bermuda. Digicel has decided not to proceed with its planned IPO at this time.

Despite significant support for the IPO from a high quality group of investors during the marketing period, current conditions, particularly in emerging markets, have impacted transaction momentum over recent days.

Commenting, Denis O’Brien, Chairman, Digicel said: “Given our growth outlook, an IPO for Digicel was optional and predicated on achieving fair value for the company.  Recent volatility in equity markets has seen a number of IPOs listing at a discount to their signalled price range and this was a less attractive route for us.”

“Digicel is now at a key juncture in our growth story following a $1.5 billion investment programme over the past three years; we generate strong and growing free cash flow and we have no material debt maturities until 2021. Our growth plans remain unchanged and we remain in a strong position to exploit areas of interest in: Data, Business Solutions, Cable TV and Broadband.”

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