Altice USA, the US arm of Altice, filed plans for an initial public offering Tuesday, a prospect that could end up valuing the company at more than $20 billion.
The Altice offering said it plans to raise $100 million. Altice USA has not yet determined how many shares it will offer or the price range of those shares, which will come at a later date. The Wall Street Journal said the IPO could value Altice USA at $20 billion, citing people familiar with the offering. The lead underwriters are JPMorgan and Morgan Stanley.
Altice USA said it’s one of the largest broadband communications and video service providers in the US. It was formed from the acquisition of cable operators Cablevision Systems and Suddenlink Communications.
“We deliver broadband, pay television, telephony services, Wi-Fi hot spot access, proprietary content and advertising services to approximately 4.9 million residential and business customers,” the prospectus said. Altice said its footprint extends across 21 states with more than 8.5 million homes passed.