By Ian Jones, 27 June 2000 08:48
NEWS Mobile phone retail giant Carphone warehouse has priced its IPO (Initial Public Offering) shares at between 170p and 220p, giving the company an approximate valuation of £1.6bn.
The flotation, set for July 14th, is expected to raise £180m for the company. The money will be split into three, according to a report in the Financial Times.
£60m will be reserved for the firm's telecoms and internet business, going on a blend of organic growth and acquisitions. A further third will be used to expand Carphone Warehouse's distribution in Europe, with the remainder paying off outstanding debts.
For related news see:
'Carphone Warehouse tempts long-term investors to stay' http://www.silicon.com/a38151
'BT buys chain of mobile phone shops'
http://www.silicon.com/a37008
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