Altice USA, the US arm of multinational Dutch cable company Altice, raised the proposed deal size for its upcoming IPO on Wednesday by adding insider shares. The Bethpage, NY-based company now plans to raise $1.9 billion by offering 63.9 million shares (81% insider) at a price range of $27 to $31. The company had previously filed to offer 46.6 million shares (74% insider) at the same range. All of the added shares are from selling shareholders.
Altice USA plans to list on the NYSE under the symbol ATUS. J.P. Morgan, Morgan Stanley, Citi, Goldman Sachs, BofA Merrill Lynch, Barclays, BNP Paribas, Credit Agricole CIB, Deutsche Bank and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of June 19, 2017.
