Zegona Communications, the London-based telecom investment company, is to transfer its London listing from the Alternative Investment Market to the main London Stock Exchange next month in a move that its directors say will increase its attractiveness to a broader range of investors.
Zegona recently acquired Spanish cable operator Telecable for €640 million and listed 192,326,724 ordinary shares on the AIM. The company was created by former Virgin Media executives Eamonn O’Hare as chairman and CEO and Robert Samuelson as COO with a mission to make acquisitions in the European TMT sector with a ‘buy-fix-sell’ strategy.
Zegona expects its stock to be admitted to the LSE official list and begin trading on September 25.
“The directors of Zegona continue to appraise acquisition opportunities to grow the Company and create value for shareholders and have always expected that the Company would need to move to the Main Market in order to achieve their ambitions for Zegona. The recent completion of the acquisition of Telecable provides the Company with an advanced platform for the move and the Board considers that admission to trading on the Main Market will increase its profile and attractiveness to a broader range of investors in advance of further acquisitions,” the company said.
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