Friday, May 9, 2014

Zayo Group Seeking IPO, Says Report

A report Friday says that Boulder, Colorado-based bandwidth provider Zayo Group has hired two investment bankers to help lead its IPO. The report, from Reuters, said that Zayo Group has picked Barclays Plc and Morgan Stanley to lead an IPO for the company. Zayo operates an extensive fiber network and related colocation and other services. The move would not be a surprise in Colorado, where Zayo has been acting much as a public company, even while private, regularly releasing financial reports on its business. Zayo said in February that it had $273.6M in its quarter ending December 31, 2013. This morning, Zayo released its fiscal third quarter results, saying it had a net loss of $43.7M on revenues of $278.0M for the three months ended March 31, 2014. The Reuters report said Zayo could be valued at close to $7 billion in its IPO.