Telecom equipment maker Avaya Holding Corp., which is owned by Silver Lake Partners and TPG Capital, plans to list its shares on the New York Stock Exchange under the symbol “AVYA,” Reuters reported Thursday. The company filed in June for a $1 billion IPO. Avaya was taken private in 2007 in an $8 billion deal.
(Reuters) – Telecom equipment maker Avaya Holding Corp, which filed in June for a $1 billion initial public offering, said it would list its shares on the New York Stock Exchange under the ticker symbol ‘AVYA’.
Avaya, which was taken private by Silver Lake Partners and TPG in 2007 for just over $8 billion, has not revealed the number of shares it intends to sell or their expected price.
Morgan Stanley, Goldman Sachs and J.P. Morgan are leading the underwriters of the Basking Ridge, New Jersey-based company’s IPO, according to a filing with the U.S. Securities and Exchange Commission.
The company said in an earlier filing that it would use part of the proceeds from the offering to repay debt, redeem preferred stock and pay management termination fees to its sponsors. (Reporting by Sharanya Hrishikesh in Bangalore; Editing by Roshni Menon)