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Eircom Confirms IPO Price Range EUR1.48-EUR1.75
Thu Mar 4, 4:41 AM ET


The secondary offer of shares will see Eircom investors Providence Equity Partners Inc. and Soros Private Equity Partners Ltd. reduce their holdings from 44.2% and 17.9% respectively to 4.8% and 2% respectively.

In addition, Lionheart Ventures (Overseas) Ltd., which holds 5.1% of Eircom's shares, and Goldman Sachs Group Inc. (NYSE:GS - News) , which holds 1.4%, will reduce their holdings to zero and 0.2% respectively.


There will be an over-allotment option for a further 10% of shares in Eircom to be sold as part of the float which, if exercised, will see Providence, Soros and Goldman Sachs also reduce their holdings to zero.


The roadshow for the initial public offering starts Friday. Citigroup Inc. (NYSE:C - News) , Deutsche Bank AG (NYSE:DB - News) , Goldman Sachs and Morgan Stanley (NYSE:MWD - News) are the joint bookrunners.


-By Andrew Peaple, Dow Jones Newswires; [phone]; [e-mail]

http://story.news.yahoo.com/news?tmpl=story&u=/dowjones/20040304/bs_dowjones/200403040441000255