Carlyle's CommScope sets IPO terms, valued at up to $3.9 bln

Reuters

(Corrects first paragraph to clarify that the buyout deal valueincluded debt)

Oct 11 (Reuters) - Telecommunications equipment companyCommScope Holding Co Inc set pricing terms for its initialpublic offering, which could value the company at up to $3.9billion, about three years after being taken private by CarlyleGroup LP in a deal valued at $3.9 billion, includingdebt.

CommScope said it expects the offering of 38.5 millionshares to be priced at between $18 and $21 each, raising over$800 million.

The company is selling 30.8 million shares in the IPO, withaffiliates of Carlyle offering the remaining shares, accordingto CommScope's regulatory filing on Friday. (http://r.reuters.com/cyq73v)

Carlyle will hold an about 75 percent stake in CommScopeafter the offering, if the underwriters exercise their option topurchase additional shares.

CommScope is a major manufacturer of cables that underpinhigh-speed data networks. It traces its roots to Superior CableCorp, a telephone cable company created in 1953, and changedownership several times until it went public in 1997.

Hickory, North Carolina-based CommScope in August filed toraise up to $750 million through its IPO.

Network equipment makers have been benefiting from arecovery in spending by telecom service providers who areupgrading their networks to handle a surge in data traffic.

CommScope said it estimates net sales for the quarter endedSeptember to fall marginally year-over-year to $880-$895 milliondue to lower broadband sales.

The company, which counts AT&T Inc, VerizonCommunications Inc and Comcast Corp among itsmajor customers, said it expects operating income for thequarter to be between $95 million and $105 million.

CommScope intends to list its common stock on the Nasdaqunder the symbol "COMM". JPMorgan, Deutsche Bank Securities andBofA Merrill Lynch are the lead underwriters to the offering. (Reporting by Aman Shah in Bangalore; Editing by Maju Samuel)

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