New Zealand telecommunications operator 2degrees is eyeing a transtasman sharemarket float that could put an $800 million price tag on the Auckland-based company, according to a media report.
The Australian newspaper reported that this country's third biggest telco, behind Spark and Vodafone, is planning an initial public offering and listing on the NZX and Australia's ASX that would raise between $100 million and $150 million and fund network construction.
Investment banks including Deutsche Craigs, UBS and First NZ Capital have reportedly pitched for the joint lead manager roles on the deal.
Company spokesman Mat Bolland said 2degrees would not comment on the IPO speculation.
He said 2degrees was a growth company and its board was constantly assessing ways in which it could grow even faster.
"We're not going to comment on how we will go about doing that and what the source of funding would be," Bolland said.
"It's a very high speculation environment."
He said 2degrees had been funding its network expansion under its "own steam".
2degrees is majority owned by US-based Trilogy International Partners.
Other shareholders include Tesbrit, based in the Netherlands, and iwi-owned Hautaki.
The company, which launched in 2009, reported a $33.6 million net loss from revenue of almost $400 million in the 2014 calendar year.