Latiin American DirecTV unit Vrio files for an estimated $1.5 billion US IPO

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Vrio, AT&T's spin-off of its Latin American DirecTV satellite TV service, filed on Wednesday with the SEC to raise up to $1.5 billion in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise as much as $1.5 billion.

The Dallas, TX-based company was founded in 1996 and booked $5.6 billion in sales for the 12 months ended December 31, 2017. It plans to list on the NYSE under the symbol VRIO. Goldman Sachs, J.P. Morgan, Citi and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Latiin American DirecTV unit Vrio files for an estimated $1.5 billion US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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