Verizon Wireless IPO in 2002

By Matt Carolan  |  Posted 2001-11-09

Verizon Wireless will offer its initial public stock offering sometime before the middle of next year.

Today Verizon Wireless filed an updated registration statement notifying the Securities and Exchange Commission of its intentions regarding the IPO. Verizon originally filed with the SEC in August of 2000, but held back on the IPO at that time because of poor economic conditions.

The company did not disclose in the new filing the specific date of the stock offering except to say that it would "be completed by mid-2002" according to a company release.

The Verizon Wireless partnership that is the subject of the offering includes the US wireless operations of Verizon Communications (NYSE: VZ) and Vodafone Group Plc. (NYSE and LSE: VOD).

The lead underwriters will be Goldman, Sachs & Co. and Merrill Lynch & Co. The Wall Street Journal projects that the value of the IPO will exceed $2 billion.

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