June 21, 2017 / 8:18 PM / in 5 months

BUZZ-U.S. IPOs: Altice USA on tap to be one of biggest IPOs of 2017

** Altice USA, the cable operator that Netherlands-based Altice NV mashed together by acquiring Cablevision and Suddenlink Communications, is poised to be one of the biggest IPOs of the year

** The deal is on tap to price after market close. ATUS shares are expected to debut on the NYSE on Thurs

** In a sign that the deal has garnered strong demand, Altice USA filed today for an increased deal size of 63.9 mln shares, up from original 46.6 mln

** If priced at midpoint of its filed range of $27-$31, the IPO would raise $1.85 bln; would value co at more than $21 bln

** Co offering 12.1 mln shares (about 19 pct of deal), while minority holders/co-investors BC Partners and Canada Pension Plan Investment Board selling the balance

** The IPO, announced in Apr, is viewed as a means for Altice’s founder, French billionaire Patrick Drahi, to expand his burgeoning U.S. cable empire

** JP Morgan, Morgan Stanley, Citi and Goldman are IPO’s top line bookrunners

** For list of scheduled IPOs, click here

** Recent IPO coverage:

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