Altice Boosts IPO Offering By 37% To Raise Up To $2 Billion

By Tomi Kilgore Markets MarketWatch Pulse

Cable company Altice USA Inc. increased Wednesday the number of shares it will sell in its initial public offering by 37% to 63.9 million shares, to raise up to $1.98 billion, from 46.6 million shares last month. The increase comes entirely from selling shareholders, who are now selling 51.9 million shares, compared with last month's plan to sell 34.5 million shares. The company, which acquired Cablevision last June and Suddenlink in December 2015, is still selling about 12.1 million shares in the IPO, which is still expected to price between $27 and $31 a share. The stock will be listed on the New York Stock Exchange under the ticker symbol "ATUS."

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