Mobilicity Eyes IPO in 2012
If Wind Mobile doesn't buy Mobilicity, the startup wireless carrier may just go public instead. The Globe and Mail yesterday reported that the discount carrier is planning to launch an initial public offering in the first quarter of 2012.
The IPO would aim to raise $100 million but would be delayed should the stock market remain in its currently volatile state. The share price would be positioned between $15 and $20. The company, legally known as DAVE Wireless (its founder and former CEO, since resigned, was Dave Dobbin), already has several investment banks in place for the launch, sources say.
Mobilicity hasn't really commented on the information leak, saying only that it's "business as usual" at the company. Globablive (which owns Wind) chairman Anthony Lacavera also declined to comment on the speculation that his company is targeting a Mobilicity takeover. Still, Wind has been clear for many months in affirming that "new entrant consolidation must happen."
