Broadband Provider Atlice Sets Terms For Up To $1.4 Billion IPO

Altice USA, Inc. , a broadband provider, set a price range of $27 to $31 Tuesday for its initial public offering, which would raise $1.4 billion on the high end. Altice plans to sell 12,068,966 shares itself. BC Partners will sell 20,923,330 and the Canada Pension Plan Investment Board plans to sell 13,559,429 shares. BC Partners and CPPIB plan to grant underwriters a 30-day option to buy an additional 5.2 million shares. J.P. Morgan, Morgan Stanley, Citigroup and Goldman Sachs & Co. are the underwriters on the offering. Altice has applied to list on the New York Stock Exchange under the symbol "ATUS."