The UK’s largest owner of TV transmitters has announced its intention to proceed with an initial public offering.
Arqiva is hoping to raise £1.5bn from floating on the London Stock Exchange’s main market, which would value the company at £6bn.
The Winchester-headquartered group will use the money raised to pay off existing debts and to invest further in its operations to drive future growth.
Simon Beresford-Wylie, CEO of Arqiva, said: “The group’s strong cash flows and stable, long term capital structure will allow Arqiva to invest in its operations to drive future growth and pay a generous dividend.
“We are very much looking forward to bringing our unique combination of leading assets and skills to the public markets.”
Mike Parton, independent non-executive chairman of Arqiva, added: “I am delighted that Arqiva will become a public listed company.
“The IPO will enable Arqiva’s leadership team to continue to execute on its proven strategy, whilst pursuing additional growth opportunities through our tower portfolio and investing in next generation 5G and fibre technology and returning significant amounts to shareholders.
“Following the IPO, the group’s balance sheet will be appropriate for an asset rich infrastructure company with long term contracts, blue-chip clients and strong cash flows, providing investment and allowing for significant shareholder returns through a progressive dividend.”
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