Toronto
Went public 3/10/2000 at $14 apiece
Filing Range:16 mil. shares @ $10 to $12
Shares Outstanding:39.03 mil. shares
Underwriters:Goldman Sachs
Salomon Smith Barney/CIBC World Markets/Merrill Lynch/Morgan Stanley Dean Witter/RBC Dominion Securities/Nesbitt Burns Securities/TD Securities
FINANCIALS
(Data in $ millions)
Y/E Y/E
9/98 9/99
Total Revenue CDN$1.82 CDN$ 2.71
Net Loss -3.58 -10.37
The Company:
GT Group Telecom Inc. operates a national broadband network, which provides high-speed data and voice services to businesses in Canada. The company’s services include web and application hosting, co-location, e-commerce and other value-added Internet services. The company also provides traditional telecommunications products and services, including local area network extension and enhanced local and long distance voice services. The company is continually expanding its fiber optic network and will further extend its network by using wireless or digital subscriber line technology.
Proceeds:
The company plans to use the approximately $233 million in proceeds generated by its initial public offering to fund the development and expansion of its network, as well as for working capital and other general corporate purposes.
Venture Backers:
Shaw Communications, Goldman, Sachs & Co.
Board Members:
James Matkin
James Mansour
Daniel Millard
Robert Wolfe
Michael D’Avella
George Estey
P. Kenneth Kilgour
Robert Gheewalla
Jim Shaw