Harbinger Wireless Co. Mulls IPO

Apr 12 2011 | 4:47am ET

Harbinger Capital Partners may be looking for a way to cash in on its huge investment in wireless broadband.

The New York-based hedge fund, which has poured some 40% of its $6 billion in assets into the 4G venture, LightSquared, held talks about a potential initial public offering in New York last week and plans to do so again on the West Coast sometime next month, Reuters reports. The company could go public as early as this summer, as it begins trial runs in four cities. Further trials, part of its deal with Best Buy Co., will begin next year.

Reston, Va.-based LightSquared has been meeting with telecommunications analysts and institutional investors. Last week, it met with a Morgan Stanley analyst and mutual fund representatives at LightSquared’s Manhattan offices—which happen to be located in the same building as Harbinger’s offices.

Experts say that LightSquared needs to raise another $6 billion to build out its network, which it is set to do by 2015 under a Federal Communications Commission waiver.


In Depth

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...