In a securities filing on Monday, Altice USA said it plans to sell 46.6 million shares in the company’s initial public offering, which it originally announced back in April. The company acquired cable operators Suddenlink and Cablevision last year. The price for each share will go for $27 to $31, the company said in the filing, and the IPO value is estimated at around $1.35 billion.
Altice is the fourth-largest U.S. cable operator behind Comcast, Charter, and Cox. The Hollywood Reporter says some analysts have suggested that privately held Cox or other cable operators could be a future focus for Altice acquisition using funds garnered from the IPO.
J.P. Morgan, Morgan Stanley, Citigroup, and Goldman, Sachs & Co. are serving as joint book-running managers for the proposed Altice offering.