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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

Finance

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators 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: 0.1166 sec (9 req/sec)