Listing reportedly expected to value owner of Cablevision, Suddenlink at more than $20 billion.

Altice USA on Tuesday filed for an initial public offering that is expected to value the business at more than $20 billion (€18.84 billion).


In a brief statement, parent company Altice said the number of shares to be offered and the price range for the offering have yet to be determined.

Sources cited by The Wall Street Journal claimed that the Altice USA IPO is expected to raise more than $1 billion, and that Altice plans to retain a 70% stake in its U.S. subsidiary, thereby valuing Altice USA at more than $20 billion.

In 2015, Altice bought Suddenlink and Cablevision for $9.1 billion and $17.7 billion respectively. Late last year, it announced its ‘Generation Gigaspeed’ strategy, a five-year plan to deploy fibre-to-the-premises (FTTP) across its U.S. footprint.

In registration documents filed with the SEC on Tuesday, Altice said it will offer three classes of Altice USA common stock: A, B, and C. Class A shares will carry a single voting right, while Class B shares will each have 25 voting rights. Class C shares will be non-voting.

Altice said the proceeds will be used for general corporate purposes.

J.P. Morgan, Morgan Stanley, Citigroup and Goldman Sachs are serving as joint book-running managers for the proposed offering.