Inmarsat Looks To Launch IPO By Year's End

Monday, August 06, 2001
Global mobile satellite communications company Inmarsat said on Monday it expected to launch a public offering of its shares (IPO) by year-end to raise money to pay off debt or to make acquisitions.

"We are ready to go anytime soon. We have done all the preparation work for an IPO and we continue to monitor the market," Inmarsat Chief Executive Michael Storey said.

Storey expected the listing - most likely at The London Stock Exchange but maybe also on the New York Stock Exchange - to take place in the third or fourth quarter this year. The company has appointed brokers Morgan Stanley to lead the flotation.

Orginally Inmarsat aimed for an IPO in the first half of this year, but the global downturn on stock markets delayed the plans, Storey said.

Last month, British media estimated that Inmarsat, owned by Norway's Telenor, British Telecom, France Telecom and other global players, could be valued at around $2.8 billion.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

US Navy: Future USS John Finn (DDG 113) Launched

The future USS John Finn (DDG 113) was launched at the Huntington Ingalls Industries (HII) shipyard March 28.  During launch the drydock was flooded allowing the

WISTA AGM to Address Emerging Shipping Challenges

WISTA USA (Women’s International Shipping and Trading Association) is putting the final touches on a high-profile speaker line-up that will headline its upcoming

WOW at USMMA

The United States Merchant Marine Academy Hosts 7th Annual Women on the Water Conference. Last week, The United States Merchant Marine Academy (USMMA) in conjunction with the U.

Finance

Sea Star Continues Puerto Rico Investments

Sea Star Line, LLC has entered an agreement to on-hire another barge to add to its current service package for shipments from Jacksonville to Puerto Rico.   The

Rand Logistics Announces Debt Refinancing

Rand Logistics, Inc. announced today that it has closed a $170.0 million revolving loan facility which refinanced approximately $102.0 million of the company's

Baltic Sea Freight Index Edges Higher

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Monday as rates rose for vessels across all segments.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1803 sec (6 req/sec)