MetroPCS is going to take another crack at it: Today the Dallas-based wireless broadband company filed for a $1.125 billion initial public offering. Underwriters of the IPO include Bear Stearns, Banc of America Securities, Merrill Lynch and Morgan Stanley. The company has yet to release details like where it planned to list shares or the company's future trading symbol. MetroPCS plans to use the IPO money to build out its offerings in the markets in which it recently acquired AWS licenses. The licenses cover a unique population of about 117 million and cost the carrier nearly $1.4 billion.
Back in July 2004, MetroPCS shelved its IPO plans, which consisted of a 24 million share offering that could have brought in $504 million. The officialese at the time was that they were "postponing such offering pending their review of certain accounting issues that came to their attention."
For more on the proposed MetroPCS IPO:
- see this blurb from MarketWatch