Avaya to go public in $1bn IPO


Avaya to go public in $1bn IPO

Alex Scroxton

Avaya has filed a registration statement with the US Securities and Exchange Commission (SEC) relating to a proposed IPO of $1bn in common stock.

As reported earlier in the week, rumours about Avaya going public have been circulating for some time. It was taken private following its acquisition four years ago and since then has moulded itself into a powerful force in the competitive networking sector.

The IPO will be backed by a consortium of finance houses including Morgan Stanley, Goldman Sachs, JP Morgan, Citigroup, Deutsche Bank, BofA Merrill Lynch, Barclays, UBS and Credit Suisse.

In a statement, Avaya sayd it planned to use the net proceeds from the offering to pay down long-term debts.

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