Altice raises US$1.9b in year's second-biggest US IPO

New York

BILLIONAIRE Patrick Drahi's Altice USA Inc raised US$1.9 billion in the second-biggest US initial public offering of the year.

Altice USA and some existing shareholders sold 63.9 million shares for US$30 apiece, near the top end of the marketed price range of US$27 to US$31 each, according to Bloomberg data. The company said in a filing earlier on Wednesday that it was increasing the size of the deal because Canada Pension Plan Investment Board and BC Partners had boosted the number of shares they were offering.