Univision, the leading American Spanish-language media company, withdrew its plans for an initial public offering on Tuesday. The company cited "prevailing market conditions." It originally filed in July 2015 with a proposed deal size of $100 million, likely a placeholder for an IPO that we estimate could have raised $1 billion.
Univision also issued a press release stating that CFO Francisco Lopez-Balboa was being replaced by EVP of Finance Peter Lori as the company's new CFO.
The New York, NY-based company was founded in 1962 and booked $3.1 billion in sales for the 12 months ended March 31, 2017. It had planned to list on the NYSE under the symbol UVN. Morgan Stanley, Goldman Sachs, Deutsche Bank, Allen & Company, Barclays, BofA Merrill Lynch, Citi, Credit Suisse, Guggenheim Securities, J.P. Morgan and Wells Fargo Securities were set to be the joint bookrunners on the deal.
The article Univision withdraws IPO that could have raised $1 billion originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
