ECI Telecom hopes to raise $230 million IPO to assist 5G opportunity

Share this on social media:

ECI Telecom Group intends to float on the main market of the London Stock Exchange, with the aim of raising $230 million in its initial public offering (IPO) for future investments, debt reduction and an increase in its brand profile. The company would also use the funding to help capture the opportunity represented by 5G.

The number of new shares to be issued, as well as the price per share have yet to be revealed as the book building process takes place. Admission is expected to take place in late October, according to the London Stock Exchange. Barclays Bank PLC and UBS will act as joint bookrunners and global co-ordinators for the IPO, and Canaccord Genuity as joint lead manager.

In addition, an overallotment option of existing shares equal to up to 15 per cent of the total offer may be made available by selling shareholder, ECI Holding.

Company: 

Recent News

17 September 2020

The New York and New Jersey metro region of America is to benefit from enhanced backbone connectivity thanks to a strategic partnership between Telia Carrier and ZenFi Networks.

17 September 2020

Internet exchange point (IXP), PIT Chile has deployed PacketLight’s PL-2000T transponder to connect two of its data centres in Santiago, Chile.

11 September 2020

EXFO has acquired high-speed test instrument specialist, InOpticals in a move to expand its test activity in 400G/800G lab and manufacturing markets.

10 September 2020

Italian infrastructure operator, Open Fiber is expanding its FTTH network across the country.