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Intelsat files for IPO
Posted: Tue, May 22, 2012, 6:17 AM ET (1017 GMT)
Satellite operator Intelsat has filed for an initial public offering of stock, seeking to raise $1.75 billion. The company filed to be listed on the New York Stock Exchange under the ticker symbol "I", with Goldman Sachs managing the IPO. Intelsat operates 50 communications satellites in geosynchronous orbit. The company has stable revenues in recent years at just over $2.5 billion per year, with a loss of $400 million in its most recent fiscal year. No specific date for the offering was announced.
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