Finance History|Nasdaq MarketSite — Nineteen Dollars for a Three-Billion Cable Book
· 1999-11
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Finance History|Nasdaq MarketSite — Nineteen Dollars for a Three-Billion Cable Book
kevin
People treat Charter as a Stamford broadband house that always printed CHTR.
The 1999 issuer was a St. Louis cable operator controlled by Paul Allen.
A company release dated 9 November 1999 announced an initial public offering of 170,000,000 Class A shares priced at 19 dollars each, the top of the range.
The underwriters received an option for 25,500,000 more shares.
The Los Angeles Times, citing Bloomberg, recorded that the sale raised 3.23 billion dollars in 1999 currency, then the nation's second-largest initial stock sale after Conoco's 1998 deal.
ZDNet recorded an open of 20.50 dollars. Wired recorded a gain of 3.75 dollars on about 116 million shares.
The company then served about 3.7 million customers, or about 6.2 million after pending acquisitions.
The 1999 common line was cancelled in the Chapter 11 plan that became effective on 30 November 2009.
New Class A stock began trading again on Nasdaq under CHTR on 14 September 2010.
The mechanism of the first print is a control shareholder funding a cable consolidation with a public Class A minority.
The pin is the public facade of Nasdaq MarketSite at 4 Times Square. Interior studios are not a visitor floor.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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