St. Louis -- Charter Communications, the MSO based here and
controlled by Microsoft Corp. cofounder Paul Allen, said last week that it hopes to raise
about $3.7 billion from its initial public offering, expected next month.
According to documents filed last week at the Securities
and Exchange Commission, Charter will issue 170 million class-A common shares, not
including about 25.5 million shares that will be sold outside of the United States. The
price should be between $17 and $19 each.
At those prices, Charter would raise $3.325 billion to
$3.715 billion from the offering, slated for Oct. 14.
Charter also said it would add two new directors after the
offering: Allen & Co. managing director Nancy Peretsman and Falcon Communications Inc.
chairman Marc Nathanson. Charter agreed to buy Falcon in May for $3.6 billion in cash and
After the offering, Allen will own 57.9 percent of Charter,
including 96.8 percent of the supervoting class-B shares.