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)


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30 thoughts on “Benched

    1. Otis Blue

      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”

  1. Anne

    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.

    1. Anne

      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*te debt.

  2. manolo

    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.

  3. Truth in the News

    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.

  4. veritas

    was redacted working for Tony Ryan at GPA when they pulled their IPO, the company disappeared shortly afterwards.

  5. manolo

    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?

Comments are closed.

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