$DCEL, Denis O'Brien, Digicel, Digicel Group, frontier markets, Haiti, Irish shares, mobile phones, MTN Group, Papua New Guinea, related-party deals
NB: I should immediately note Denis O’Brien is not selling any of his shares in the upcoming Digicel IPO. And why should he…when the company’s already after paying him $1.1 billion in dividends over the last 3 years. Surely that will keep the home fires burning for quite some time to come!?
NB: And ‘Lifeline’ is simply a reference to ‘Who Wants to Be a Millionaire’ (or Billionaire?!) – nothing at all to do with lifeboats, or sinking, or drowning, or debt, or anything else even remotely like that…
So, ever since Denis O’Brien started popping up at regular intervals on CNBC & Bloomberg, maybe eighteen months ago now, I just knew in my gut he had a whopping great IPO in the works… Fast-forward, and Digicel’s now billed as the largest ‘Irish’ IPO ever, a revised F-1/A was just filed with an indicative $13-$16 per share price range, and its NYSE IPO is just about ready to drop. With everybody & their mother talking about it (well, except for Johnny Ronan’s fat mouth), how can I resist chipping in my two cents..?!
Let’s kick off with an introduction: Digicel Group is a leading provider of mobile communication services in the Caribbean & South Pacific regions. Its mobile subscriber base has grown from just 0.4 million in 2002 to a total of 13.6 million subscribers as of Jun-2015 (an impressive 31.7% CAGR). It now enjoys a number one position in 21 of the 31 markets in which it operates.