NW18 HSN plans to sell ordinary stock through initial public offering

Citigroup and Credit Suisse will be joint bookrunning managers

By Devika Patel

Knoxville, Tenn., April 2 - NW18 HSN Holdings plc will conduct its initial public sale of ordinary stock with a greenshoe, according to a Form F-1 filed Wednesday with the Securities and Exchange Commission. The deal will be conducted alongside a secondary offering of stock.

Citigroup and Credit Suisse are the joint bookrunning managers.

Proceeds will be used to repay $4.3 million of debt under the company's credit facilities with The Ratnakar Bank Ltd. and for general corporate purposes.

The Noida, India, company operates a digital commerce platform in India. It intends to list its stock on an exchange under the symbol "HS."

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