Altice USA: benchmark price set at 30 dollars.

(CercleFinance.com) - The IPO of Altice USA, a US subsidiary of the Dutch telecommunications holding company controlled by Patrick Drahi, is going quite well.


Last night the group announced that the benchmark price for the Altice USA Class A share, which will be floated on Wall Street this afternoon, has been set at 30 dollars. This is the top of the indicative range of 27 to 31 dollars. The Altice USA share will have the ticker “ATUS”.

Some 63.9 million Altice USA Class A shares have been sold at this price, which is more than originally planned (46.6 million). Out of this total, Altice USA will sell 12.1 million of its own securities, funds advised by BC Partners will sell 31.5 million, and the CPPIB pension fund will sell 20.4 million.


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