New Zealand mobile operator 2degrees is preparing for an initial public offering (IPO) on stock exchanges in New Zealand and Australia, according to press reports. The Australian writes that the firm could be valued at up to NZD800 million (USD543 million), with the stake sale likely to be worth between NZD100 million and NZD150 million. The proceeds will be used to fund network construction, the report suggests. 2degrees is majority owned by US-based Trilogy International Partners, with other shareholders including Amsterdam-based Tresbit and Maori investment group the Hautaki Trust. The cellco is the smallest of three mobile operators in its domestic market behind Vodafone and Spark (formerly Telecom New Zealand).
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