Company: Vrio Corp
Symbol: VRIO
Description: They are a leading provider of digital entertainment services in South America, with approximately 13.6 million subscribers in the Region as of December 31, 2017.
Trade Date: 4/19
Shares: 29.7 million
Price Range: $19.00-$22.00
Underwriter(s): Goldman Sachs & Co., J.P. Morgan, Citigroup, Morgan Stanley. BofA Merrill Lynch, Barclays, BTG Pactual, Credit Suisse, Deutsche Bank, Itau BBA, Santander, Banco do Brasil Securities, BNP PARIBAS, Bradesco BBI
Co-Manager(s): Academy Securities, Blaylock Van LLC, Cabrera Capital Markets, C.L King & Associates, CastleOak Securities, Drexel Hamilton, Loop Capital Markets, Mischler Financial Group, Ramirez & Co., Siebert Cisneros Shank, The Williams Group L.P.
Terms Added: 4-5-18
Business:
They are currently a wholly-owned subsidiary of AT&T. Upon completion of this offering, AT&T will own 0.3% of the outstanding shares of their Class A common stock and 100% of the outstanding shares of their Class B common stock, giving AT&T 98.2% of the combined voting power and 84.9% of the economic interest of their outstanding common stock.
They provide digital entertainment services to their customers on a postpaid and prepaid basis across three segments: Brazil, which distributes their offerings in Brazil under the SKY brand; South Region, which distributes their offerings in Argentina, Chile, Peru and Uruguay under the DIRECTV brand; and North Region, which distributes their offerings in Barbados, Colombia, Curaçao, Ecuador, Trinidad and Tobago and Venezuela, also under the DIRECTV brand. They are a holding company, and conduct all of their operations through their subsidiaries and they do not conduct any business operations of their own.
Financials: Their revenues were $7.06 billion, $5.94 billion, $5.02 billion and $5.57 billion and their net income (loss) was $210 million, ($1.21 billion), ($356 million) and $222 million in 2014, 2015, 2016, and 2017, respectively.
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