Telecoms group Digicel has today set the price range for its initial public offering on the New York Stock Exchange.

In a filing with US regulators, Digicel said it plans to sell just over 142 million shares at a price of between $13 and $16 a share.

At that price the company, which is owned by Denis O'Brien, would raise over $2 billion. It would also value the company at about $5 billion at the top end of the range.

Digicel, which sponsors sprinter Usain Bolt and the West Indies cricket team, first announced its plans to float in June. 

The company has 13.6 million subscribers in 31 markets in the Caribbean and South Pacific.

It has said it plans to use proceeds from the IPO for capital spending, acquisitions and to pay down debt.

For the year to March, Digicel reported adjusted earnings before interest, taxes, depreciation and amortisation of $1.18 billion, on revenue of $2.79 billion.

It said today that it would sell 124.1 million Class A shares in the IPO. Mr O'Brien will continue to own all of Digicel's Class B shares and control about 94% of the voting power after the offering.

Denis O'Brien set up Esat Telecom in 1990 before being drawn into a 14-year public inquiry over his purchase of an Irish mobile phone license in the 1990s. 

He later sold Esat Telecom before launching Digicel in Jamaica in 2001.

Digicel plans to list its shares on the New York Stock Exchange under the symbol "DCEL".