Feeds

Inmarsat OKs £1bn float

Satellite of lurve

  • alert
  • submit to reddit

Combat fraud and increase customer satisfaction

Inmarsat is to float its shares on the London Stock Exchange (LSE) valuing the satellite operator at £1bn.

The company intends to use the cash it raises from the initial public offering (IPO) to refinance part of its debt and to fund future investment.

Shares are expected to be sold at between 215p to 245p helping the global comms provider raise around $690m (£380m).

Said chairman and CEO Andrew Sukawaty in a statement: "We are delighted to announce Inmarsat's intention to float. We are looking forward to the opportunities afforded by public company status, and we will use the proceeds of the IPO to strengthen our balance sheet."

With ten geostationary satellites, Inmarsat provides a wide range of data and voice services, including telephony, fax, video, email and high-speed intranet and internet access.

Its customers include US and UK military, media outfits including CNN and the BBC, and companies such as Shell and British Airways.

In 2004 Inmarsat generated revenues of $480m (£265m) and operating profit of $159m (£88m). ®

Related stories

Galileo concession still up for grabs
HELLO...I'M ON A PLANE...YES...A PLANE!!
Europe and US inch towards GPS accord
Mobile broadband everywhere

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.