Altice USA IPO Seen Raising More Than $1 Billion, Valuing Company at Over $20 Billion

Altice USA filed paperwork to go public April 11, in an offering that would raise more than $1 billion, apparently. The US arm of French mogul Patrick Drahi’s cable operator Altice NV filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering of shares of Class A common stock.

The IPO is likely to value Altice USA at more than $20 billion. BC Partners Ltd. and Canada Pension Plan Investment Board, which together own 30% of Altice USA, are likely to sell 5% to 10% of the company, apparently. Altice is so far planning to keep its 70% stake in Altice USA, although the IPO process is likely to take several months, and Altice’s approach could change over that time.