Media sources in the financial world (Bloomberg, Wall Street Journal etc) have reported that the satellite communications firm, Intelsat has managed to sel 19.3 million shares for $18 each in its initial public offering (IPO) raising in total $347.8 million. The company has originally hoped to sell 21.7 million shares at a price higher than $21. As such, the revenues, which the company hopes to use to pay back some if its debt, was less than expected.
Intelsat’s IPO fails to deliver as much as expected
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