Founded in October 2000 by Denis O'Brien, who is the current chairman, Digicel initially started out as a mobile phone company.
Its first mobile operation was in Jamaica in April 2001, before expanding to other countries in the Caribbean and South Pacific.
Today, it offers mobile services in 31 markets, with 13.6 million subscribers. It has also added business solutions in 31 markets, including voice and data connectivity, cloud and data centres, machine to machine services such as vehicle tracking and smart metering. Its most recent addition is cable TV and broadband services, which it offers in nine countries. It is currently rolling out fiber to the home networks in Jamaica, Trinidad and Tobago and Barbados.
Digicel figures
In the year ended March 31st, 2015, the company generated total revenue of $2.8 billion. Its operating profit was $707.8 million for the year, but incurred a net loss of $157.6 million. Adjusted earnings before interest, taxation, depreciation and amortisation were $1.2 billion.
Digicel has invested $1.6 billion in capital expenditure over three years, excluding acquisitions, to bolster its network infrastructure.
The company has about 6,000 full time employees.
IPO figures
The IPO could net Digicel as much as $2.3 billion (€2 billion), with a share price in the range of $13-$16.
The net proceeds from the sale of the shares are expected to be around $1.7 billion, if the shares sell at the $14.50 midpoint.
About $1.3 billion will be used to repay debt; any remaining money will be used for general corporate purposes.
Chairman Denis O’Brien will retain almost 94 per cent of voting power when the deal is complete. That means he will retain control over any action requiring the general approval of the company’s shareholders - the election of directors or potential mergers, for example.
Immediately following the completion of the offering, Digicel’s authorised share capital will consist of 30,000,000,000 common shares, and and 5,000,000,000 preference shares. There will be 124,237,931 Class A and 193,310,345 Class B common shares issued and outstanding; Class A shares have one vote per share, with Class B shares having 10 votes per share. Mr O’Brien holds Class B shares.
