Virgin Mobile Files for IPO
Sep 25, 2007, 12:53 PM by (staff)
MVNO Virgin Mobile USA has filed for an initial public offering to raise cash to pay debts and fund operations. It plans to sell 27.5 million shares of stock at $15 to $17 per share and raise $467.5 million. Virgin Mobile is a youth-focused MVNO that is a partnership between Sprint and the Virgin Group. The IPO would reduce both companies' ownership stakes in the MVNO. Virgin had 4.83 million customers as of June 30, and made a profit of $26.5 million in the first half of the year. Virgin will use the money to pay $45 million that it owes Sprint and $150 million it owes to other creditors.
source: Reuters
iPhone 15 Series Goes All-In on USB-C and Dynamic Island
Samsung S24 Series Adds More AI, Updates the Hardware
Motorola Gets Serious About Foldables with New RAZR Lineup
iOS 18 Overhauls Home Screen, Messaging, Photos
Motorola Upgrades its razr Foldables Across the Board
Comments
I think it is a good investment, although if you are willing to invest right now when the stock becomes public (VM is the ticker), I think it is best to wait. Revenue and profits look good. In 2006, it said they had $36m in net loss with $1.1 billion....
(continues)
(continues)
...
h_aguilar84 said:
Let's ask the guru of Wall St. What say you nextel 18?
For the Love of God, people...Nextel18 is NOT a Wall Street guru!
Please don't base your investment plans on his advice!
...
