Slovenia’s Satellite Telecommunications Network expects to raise at least €12m-15m (US$13m-16m) from an IPO it is preparing to expand into new business areas. The teleport-based distributor’s owners expect to list 30%-40% in deal potentially valuing it at as much as €50m (US$55m).
Slovenia’s Satellite Telecommunications Network (STN) expects to raise at least €12m-15m (US$13m-16m) from an IPO it is preparing to expand into new business areas, marketing director Valerie Lovsin told SatelliteFinance.
STN’s investors are planning to list 30% to 40% of the teleport-based distributor next year, potentially valuing the company at as much as €50m (US$55m).
Lovsin said the majority of the proceeds from the flotation will be “reinvested to accelerate the strategic growth and development of the company plan which is already underway”.
STN is yet to decide where it will list, but indicated it would likely choose a large European exchange – such as London or Frankfurt – although it is also considering the Far East. The company declined to comment at this stage on what firm was advising it on the process.
CCO Mitja Lovsin has previously said the privately owned company has identified a number of investors who will be interested in the IPO, and will start discussions with them once it has finalised documentation for a transaction.
In transitioning to become a public company, STN is forming a board which the owners will sit on to concentrate on the company’s future strategy, with the running of the business delegated to a general manager and its company directors.
Founded in 2004, STN’s core business is providing satellite transmission for TV channels, radio broadcaster and content producers, alongside a range of other services.
It has almost 90 antennas and provides services in the C-, Ka- and Ku-bands, distributing around 600 channels through positions leased on 18 satellites.
STN has capacity over Europe, the Middle East, the Americas, Africa and Asia Pacific. New areas of STN’s business – unrelated to the IPO – centre on the possibilities offered by high-throughput satellites and using STN’s infrastructure to distribute data for consumer broadband, enterprise and maritime markets. In addition, STN is expanding its broadband access services, cellular backhaul and the services it can offer to government clients.
