Internet Gold Golden Lines Ltd. (Nasdaq: IGLD; TASE:IGLD) subsidiary 012 Smile.Communications Ltd. has filed a registration statement with the US Securities and Exchange Commission (SEC) for an IPO on Nasdaq. The company plans to issue 6,675,000 shares and has given the underwriters a 30-day green shoe option on an additional one million shares.
Smile plans to raise about $40 million, which it will use for working capital, the repayment of $24.3 million in short-term debt and the redemption of $15.7 million in Series A bonds.
CIBC World Markets Corp., Cowen and Company LLC, RBC Capital Markets Corporation, Thomas Weisel Partners LLC and Oppenheimer & Co. Inc. are the underwriters.
Internet Gold created Smile Communications after acquiring 012 Golden Lines Ltd. Stella Hendler is CEO of Smile. The company raised NIS 425 million in a bond issue in May. Eurocom Group, controlled by chairman Shaul Alovitz, controls Internet Gold.
Published by Globes [online], Israel business news - www.globes.co.il - on October 14, 2007
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