UPDATED: Altice USA Inc., a subsidiary of Patrick Drahi’s global telco, content, and advertising group which owns Cablevision/Optimum and Suddenlink, is expected to raise $1.9 billion in its initial public offering on Thursday.
Altice USA’s IPO is believed to mark the second-biggest U.S. initial public offering of the year to date, following Snap Inc.’s $3.9 billion deal last March.
Altice USA’s 63.9 million shares were priced at $30 each share on the New York Stock Exchange. The company will trade under the symbol ATUS. Shares opened at $31.60 and stayed within the $31.52-$32.68 range throughout the trading day. The closing price of $32.71 marked a strong 9% gain for the day.
Altice USA’s IPO comes amid more speculation about consolidation…