MetroPCS IPO could hit $1B

MetroPCS has disclosed the expected terms for its IPO: It plans to sell 50 million shares at $19 to $21 apiece in a bid to raise $1 billion. That would make it the biggest IPO in 2007 so far. The carrier plans to launch on the NYSE with the symbol PCS. Bear Stearns is one of the major underwriters for the IPO and shareholders include Accel Partners, First Plaza Group Trust, M/C Venture Partners, Madison Dearborn Capital Partners and TA Associates.

For more on MetroPCS' imminent IPO:
- see this article from MarketWatch