Wednesday, April 4, 2007

MetroPCS Sets IPO Terms

Dallas, Texas-based MetroPCS set its offering terms for its IPO last night, saying that it will offer 37,500,000 shares of its common stock at between $19.00 and $21.00 per share. The firm, which provides PCS telecommunications services across major U.S. cities, is looking to list on the New York Stock Exchange under the symbol "PCS". The lead underwriters on the IPO are Bear, Stearns & Co., Banc of America Securities, Merrill Lynch & Co., and Morgan Stanley.