Altice has raised $1.9 billion in an IPO in the US, according to Reuters, quoting sources familiar with the matter.
Earlier, Altice announced and its US subsidiary had priced the latter’s IPO of 63,943,029 million Class A common stock shares at $30 each.
Of these, 12,068,966 would be sold by Altice USA, 31,475,965 by funds advised by BC Partners and 20,398,098 by entities affiliated with the Canada Pension Plan Investment Board (CPPIB).
BC Partners and CPPIB granted underwriters a 30-day option to buy up to 7,781,100 additional Class A common stock shares.
Following the IPO, Altice would own 70.3% of Altice USA’s stock, representing 98.3% of the voting power.
Altice USA was formed by Altice following its acquisition of Suddenlink Communications in 2015 and Cablevision/Optimum in 2016.
It currently has around 4.9 million residential and business customers across 21 states, providing broadband and video services under the Optimum and Suddenlink brand names.