Arqiva announces IPO plans

Arqiva Crystal Palace_0124UK broadcast infrastructure firm Arqiva has announced plans proceed with an initial public offering (IPO), which will see it float on the London Stock Exchange.

The firm aims raise an estimated £1.5 billion (€1.7 billion) through the IPO, which could be one of the year’s biggest London stock market debuts.

The move comes after Arqiva reportedly failed to find a buyer for the company. The offer will be used to reduce outstanding debt.

“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,” said Mike Parton, independent non-executive chairman of Arqiva.

“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.”

Arqiva’s strategy to deliver growth and shareholder returns includes: continuing to deliver DTT in the UK in a cost-effective manner, while growing the hybrid TV model; continuing to expand the coverage of DAB radio networks; and increasing its telecoms site portfolio and its position in outdoor small cells infrastructure.

“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 CEO, Simon Beresford-Wylie. “We are at the heart of communications and enablers of the vibrant digital economy.”

Read Next