Arqiva planning £6 BILLION float on London Stock Exchange
TV AND mobile infrastructure firm Arqiva has announced its intention to float on the London Stock Exchange in a £6 billion listing.
Arqiva is planning a £6bn float on London Stock Exchange
The company, owned by Canada Pension Plan Investment Board and Macquarie, is Britain’s largest owner of mobile, TV and radio towers and works with the likes of BBC, ITV, Channel 4 and Channel 5.
Arqiva plans to raise £1.5 billion through the initial public offering and will use the proceeds to pay down debt.
The deal gives the group a market value of £4.5 billion and £6 billion including debt.
Arqiva said that it was well positioned to provide shareholders with “generous” dividends and expects to pay out £195 million this year.
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We are very much looking forward to bringing our unique combination of leading assets and skills to the public markets
Arqiva chief executive Simon Beresford-Wylie said in a statement to the media: "Arqiva provides the critical infrastructure and skilled workforce that ensures the effective operation of the UK's television, radio, telecoms and smart meters.
"We are very much looking forward to bringing our unique combination of leading assets and skills to the public markets."
In the year to June, the firm booked revenue of £943.8 million.