Israel's communication firm Internet Gold-Golden Lines, which is traded on the Nasdaq under the symbol "IGLD", underwent an internal restructuring in 2006 and now plans to spin off its broadband and traditional voice service business 012 Smile. Communications via an IPO, according to an SEC filing. This unit, which generated roughly $260 million in revenues over the past twelve months and produced a 19.5% adjusted cash flow margin, plans to offer approximately 6.7 million common shares at a range of $14-$16 and has a proposed market cap of $376 million. Lead underwriter CIBC World Markets has yet to determine a pricing date for the IPO.
