World's largest satellite service provider Intelsat decreases proposed US IPO deal size
Intelsat, the world's largest provider of satellite services to businesses, lowered the proposed deal size for its upcoming US IPO on Tuesday. The Luxembourg-based company's proposed maximum offering placeholder now stands at $750 million, a $1 billion decrease from the previously filed $1.75 billion. This marks Intelsat's first updated filing since December 19, 2012. Other notable large filers that have recently issued updates and could launch within the next month include Fairway Group ( FWM ), Sea World ( SEAS ), Pinnacle Foods ( PF ) and Taylor Morrison ( TMHC ).
Intelsat, which was founded in 1964 and booked $2.6 billion in sales for the 12 months ended December 31, 2012, plans to list on the NYSE under the symbol I. Goldman Sachs, J.P. Morgan and Morgan Stanley are the joint bookrunners on the deal.