Some nice big Irish business news tonight. Denis O’Brien’s Digicel postponing IPO due to market volatility/emerging markets cc: @ianguider
— Seamus Conwell (@SeamusConwell) October 6, 2015
Digicel’s balance sheet is very weak, Francis Gaskins, president of research firm IPO Desktop, said. “It’s a big company that has been losing money since it started,” Gaskins said. “They’ve been growing subscribers at 2 percent a year.”
Digicel reported a loss of $157.6 million on revenue of $2.79 billion for the year ended March 31, compared with a profit of $43.5 million on revenue of $2.75 billion a year earlier.
“”Their revenue is flat, they are losing money, the company is not growing – it would not be seen as the most attractive of investments,” said Jay Ritter, professor of finance, University of Florida.
Oh the humanity.
3-Caribbean telecom company Digicel hangs up on IPO (Reuters)
Denis O’Brien pulls potential $2bn Digicel flotation (IrishTimes)
(RollingNews.ie)
I’ve got a feeling that [redacted] is not in Kansas anymore.
Sympathy for the redacted……
Nah!
Seems apt.
“Please allow me to introduce myself
I’m a man of wealth and taste
I’ve been around for a long, long year
Stole many a man’s soul to waste…..
Pleased to meet you
Hope you guess my name
But what’s puzzling you
Is the nature of my game”
He is the truest sort of Bond villain this country has ever produce.
Would I be wrong in thinking, he wasn’t gonna get the share price he wanted and was told they’re about as valuable as toilet paper..
Poor Denis. Maybe he can sue someone over this. Anyone’ll do.
Oops. Typo. Would have been about as valuable.
You can get about 9 rolls of toilet roll though for 9 bucks. Toilet roll, definitely a sounder investment than digicel’s pile of
cowsh*tedebt.Couldn’t happen to a more deserving [Redacted].
I’m not one to dance on anyone’s grave.
Except in this instance.
Vincent Browne was looking rather happy. Wonder why ?
He’ll probably try and sue the markets now.
+ several injunctions
Careful now. He’ll come looking for you… Like the boogey man
I understand the nelson muntz school of social commentary have an observation on the subject.
Ha ha.
*Points*
,’wonder will it make the business n’markets section on Morning Ireland in a minute
I can’t believe this is happening after George Hoop saved Haiti how ungrateful
I’m a bit sick but this makes me feel warm inside and nice inside.
poor [redacted], a nationality without residence, a business without profit, a house without a kitchen, an IPO without buyers. what next? a law suit against a country without merit? It must be terribly lonely up there.
Huahahahaaaa na na nana naaaaaa…. Oh what fun
He’ll sue the Clinton’s now for selling him a pup
Has nothing to do with trying to pick a fight with Google and facepuke
Oh what a beautiful morning :)
Oh My, Who Will He Sue, its time his business dealings here were investigated
Any meg out of James Morrisey his spin puppet on the IPO debacle….or will the
Indo fill us in, maybe Richard Curran will do an expose on RTE radio 1 business
programme on saturday morning.
was redacted working for Tony Ryan at GPA when they pulled their IPO, the company disappeared shortly afterwards.
Deja Denis…
“A boy named Sue”
He’s probably working on getting Enda to nationalise it.
Don’t say that. It is all too likely a prospect.
Methinks that there’s an unhappy ex. billionaire in Malta this morning.
I wonder how long their cash reserves will last before they need to go for new loans or try a desperate IPO… or was this the desperate one that failed?