| Ticker: PRTL | 8180 Greensboro Drive, Suite 1100 | |
| Exchange: NASDAQ-National Market | McLean, Virginia 22102 | |
| Industry: Service | (703) 848-4625 |
| Type of Shares: | Common Shares | Filing Date: | 8/27/96 | |
| U.S. Shares: | 4,000,000 | Offer Date: | 11/7/96 | |
| Non-U.S. Shares: | 1,000,000 | Filing Range: | $14.00 - $16.00 | |
| Primary Shares: | 5,000,000 | Offer Price: | $10.50 | |
| Secondary Shares: | 0 | Gross Spread: | $0.74 | |
| Offering Amount: | $75,000,000 | Selling: | $0.44 | |
| Expenses: | $1,200,000 | Reallowance: | $0.10 | |
| Shares Out After: | 17,028,746 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 640-6129 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 504-4525 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/95 | 6/30/96 | ||
| Revenue: | $125.63 | $91.78 | $47.93 | Assets: | $62.30 |
| Net Income: | -$4.69 | -$3.30 | -$1.95 | Liabilities: | $50.50 |
| EPS: | -$0.43 | -$0.26 | -$0.18 | Equity: | $11.80 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a multinational telecommunications company that focuses on the provision of international and domestic long distance services. The company seeks to capitalize on the increasing business and consumer demand for international telecommunications services generated by the globalization of world economies and the worldwide trend toward deregulation of the telecommunications sector. The company has targeted North America, Asia-Pacific and Europe as its primary service regions. The company currently provides services in the United States, Australia and the United Kingdom, which are the most deregulated countries within the Targeted Regions and which serve as regional hubs for expansion into additional markets within the Targeted Regions. As part of the execution of this strategy, the company has commenced operations in Canada and Mexico. The company expects to expand into additional markets as deregulation occurs and the company is permitted to offer a full range of switched public telephone services. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to expand the Network, including purchasing transmission equipment facilities and support systems, international fiber capacity and satellite earth station facilities for new and existing routes. The remaining net proceeds will be used to fund operating losses and for working capital and other general corporate purposes. The net proceeds also may be used for investments in potential joint ventures, strategic alliances or acquisitions, although the company is not currently party to any agreement or understanding relating to any such transaction. |
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