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Intelsat plans scaled-back IPO in New York

Satellite operator Intelsat Global Holdings revived Tuesday its plan for an initial public offering on the New York Stock Exchange, aiming to raise up to $710 million, less than half of what it envisioned last year. Intelsat, the privately held satellite-services giant, plans to use the IPO proceeds to pay down debt, according to a filing with the US Securities and Exchange Commission.

Intelsat plans IPO in New York

Satellite operator Intelsat Global Holdings announced Tuesday a plan for an initial public offering on the New York Stock Exchange. The privately held company said it would price the shares between $21 and $25 per share to raise as much as $710 million. The date of the IPO was not announced. The Luxembourg group, which will simplify its name to Intelsat SA and trade under the ticker "I," proposed to issue 21.74 million common shares and three million Series A mandatory convertible junior non-voting preferred shares.

Russian rocket falls into sea in failed launch - reports

MOSCOW, Feb 1 (Reuters) - A rocket carrying a communications satellite suffered engine trouble and plunged into the Pacific Ocean shortly after launch on Friday, Russian news agencies reported. The unsuccessful launch of the Intelsat-27 satellite was one of several setbacks for Russia's space programme in recent years, including failed satellite launches and an unsuccessful mission to study the Mars moon Phobos.
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