2degrees explores IPO on NZ, Australia exchanges - Mobile World Live

2degrees explores IPO on NZ, Australia exchanges

25 MAR 2021

New Zealand-based operator 2degrees revealed it is considering listing on the main boards of the New Zealand and Australian stock exchanges in H2 2021 or early 2022 to raise capital to accelerate growth initiatives.

In a statement, chairman Brad Horwitz said now is an opportune time for shareholders to explore a partial listing: “Equity markets are strong globally, telecom valuations are attractive and the New Zealand dollar is at a multi-year high.”

Horwitz, who is president of CEO of 2degrees’ US-based parent company Trilogy International Partners, added an equity event would enable it to reduce debt while building the operator’s business.

The statement, however, noted any listing is subject to market conditions and no decision has been made to proceed with an IPO.

Mark Aue, 2degrees CEO, said it invested heavily in its mobile network in 2020, making significant improvements to rural services.

“We’re very excited about the future and are investing even more in advance of our 5G launch later this year.”

The operator had a 26.8 per cent market share by mobile subscribers at end-2020, data from GSMA Intelligence showed. LTE users accounted for 75 per cent of its total of nearly 1.5 million.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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