| Ionica Group plc | |||
| Ticker: | IONCY | ||
| Exchange: | NASDAQ-National Market | UK | |
| Industry: | Service (SIC Code 4812) | ||
| Type of Shares: | American Depositary Receipts | Filing Date: | 6/11/97 | |
| U.S. Shares: | 12,000,000 | Offer Date: | 7/17/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $18.47 - $19.47 | |
| Primary Shares: | 12,000,000 | Offer Price: | $19.57 | |
| Secondary Shares: | 0 | Gross Spread: | $0.91 | |
| Offering Amount: | $227,639,992 | Selling: | $0.55 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| SBC Warburg & Company | Lead Manager | (212) 224-7274 |
| ABN AMRO Bank | Co-manager | |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| J.P. Morgan Securities Inc. | Co-manager | (212) 648-0517 |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 3/31/97 | 3/31/97 | ||||
| Revenue: | $24.20 | Assets: | $383.26 | ||
| Net Income: | -$69.09 | Curr Assets: | |||
| EPS: | Liabilities: | $263.92 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $119.34 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a provider of fixed telephony services for residential and small business customers. The company's objective is to become the principal national alternative provider of such services throughout the UK (excluding Scotland). Founded in 1991 and granted a telecommunications license and allocated 30 MHz of national radio spectrum in 1993, the company is utilizing fixed radio access technology to provide high-quality telephone services directly to customers. Until mid-1996, the company was engaged primarily in start-up and development activities, during which it developed, with Nortel Limited and other partners, the FRA system and its own scaleable network and software for its service management system and network management system. Commencing in 1995, the company conducted a pilot program delivering service to a limited number of customers. The company's commercial launch of telephony services occurred I the Eastern region on May 14, 1996 and it began actively targeting and connecting customers commercially in late June 1996. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for general corporate purposes. |