Thursday August 17 6:44 PM ET
Nextel International Files $920 Million IPO
WASHINGTON (Reuters) - Nextel Communications Inc.'s
(NasdaqNM:NXTL - news) Nextel International Inc., with major wireless
operations in Brazil, Mexico, Argentina and Peru, filed on Thursday for a
$920 million initial public offering.
The Reston, Va.-based company plans to use the money to finance network
expansion, for acquisitions of additional spectrum, working capital needs,
debt service requirements or other general corporate purposes.
Nextel International, which has applied for a Nasdaq listing under the symbol
``NXTI'' (Nasdaq:NXTI - news), said in a filing with the U.S. Securities and
Exchange Commission that Goldman Sachs and Morgan Stanley Dean Witter
will jointly manage the IPO.
The company is offering an undetermined number of class A common shares
in a price range that will be revealed later. When the IPO is completed,
Nextel Communications will continue to control the company.
Nextel shares closed up 3-11/16 to 57-11/16 on Nasdaq. They have a 52-week high of 82-15/16 and a low
of 26-15/16. |
