March 7, 2018 / 11:23 AM / 9 months ago

BRIEF-Vrio Corp Files For IPO Of Up To $100 Mln Of Class A Stock

March 7 (Reuters) - Vrio Corp:

* VRIO CORP FILES FOR IPO OF UP TO $100 MILLION OF CLASS A COMMON STOCK – SEC FILING

* SAYS IT INTENDS TO APPLY TO HAVE ITS COMMON STOCK LISTED ON THE NYSE UNDER THE SYMBOL “VRIO”

* SAYS GOLDMAN SACHS & CO. LLC, J.P. MORGAN, CITIGROUP AND MORGAN STANLEY ARE AMONG UNDERWRITERS TO IPO

* INTEND TO USE PROCEEDS FROM SALE OF CLASS A SHARES TO REPAY RELATED-PARTY INDEBTEDNESS OWED TO PARENT CO AT&T

* FOLLOWING OFFERING, CO WILL HAVE 2 CLASSES OF COMMON STOCK OUTSTANDING: CLASS A AND CLASS B

* FOLLOWING OFFERING, AT&T WILL CONTROL MAJORITY OF COMBINED VOTING POWER OF CLASS A & CLASS B STOCK

* FOLLOWING OFFERING, AT&T WILL CONTROL MAJORITY OF COMBINED VOTING POWER TO ELECT DIRECTORS

* SAYS DO NOT INTEND TO PAY REGULAR CASH DIVIDENDS ON CLASS A COMMON STOCK

* SAYS PROPOSED IPO PRICE IS AN ESTIMATE SOLELY FOR CALCULATING SEC REGISTRATION FEE Source text - (bit.ly/2FsWawj)

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