Arqiva set to raise £1.5bn from listing after sale fails to complete
Arqiva is preparing to list up to a quarter of its shares on the London Stock Exchange, with the British company set to be valued overall at £6bn.
The country's largest provider of telecommunications infrastructure is to kick-off the United Kingdom's biggest 2017 IPO next month.
By listing a quarter of its shares, Arqiva could raise up to £1.5bn - with those funds set to pay down debt in a share sale that would likely result in it making the FTSE 100 index.
- 5G to account for 30% of Europe's mobile network by 2025, says the GSMA
- Fintech investment in the UK set for record-breaking 2017, London leading the way
- Read October's issue of the Business Review Europe magazine
The company, which is believed to provide up to 98% of the UK's telco infrastructure, was in discussions with Canadian and Singaporean investors last week but talks broke down over a potential sale.
"Arqiva provides the critical infrastructure and skilled workforce that ensures the effective operation of the UK's television, radio, telecoms and smart meters," said Arqiva chief executive Simon Beresford-Wylie.
"We are very much looking forward to bringing our unique combination of leading assets and skills to the public markets."
Arqiva traces its roots back to the BBC's first radio transmission back in 1922 and still provides its services to the broadcaster as well as ITV and international companies.
Like what you see! Signup for our weekly newsletter