Communications infrastructure firm Arqiva, which owns TV, radio and mobile phone masts across Britain, has outlined plans for a float in the London Stock Exchange.
The initial public offering (IPO) is expected to value the £944m-turnover company, which counts the likes of BT, EE, Vodafone, the BBC, ITV and Sky as clients, at approximately £6bn including debt.
In addition to broadcast and infrastructure, Arqiva has also been an early participant in the development of machine-to-machine (M2M) infrastructure in the UK through its smart water and energy metering services and through other Internet of Things (IoT) solutions.
Arqiva is expected to list its shares on the main market of the London Stock Exchange next month.
“Arqiva provides the critical infrastructure and skilled workforce that ensures the effective operation of the UK’s television, radio, telecoms and smart meters,” said chief executive Simon Beresford-Wylie. “We are at the heart of communications and enablers of the vibrant digital economy.”
He added: “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, says the IPO will enable the company’s leadership team to “continue to executive on its proven strategy” while pursuing additional growth opportunities through tower portfolio and investing in next generation 5G and fibre technology.
“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,” he added.
Arqiva has about 8,000 active licensed sites and operates from UK offices in London, Winchester, Gerrards Cross, Daventry, Sutton Coldfield, Halesowen and Huddersfield.