U.K. masts group Arqiva broadcasts $2 bln IPO plan: Reuters
British broadcast and mobile masts company Arqiva plans to raise around 1.5 billion pounds (US$2 billion) in the biggest initial public offering in London so far in 2017, Reuters reported. After 2.6 billion pounds worth of debt held by shareholders is converted into equity, Arqiva’s implied enterprise value, which includes debt, could be around 6 billion pounds, a source said. The listing of at least 25 percent of Arqiva is expected to be the largest in terms of proceeds in London so far this year, although its shareholders, including Canada Pension Plan Investment Board and Macquarie Infrastructure Fund, only intend to sell shares through an over-allotment option of up to 15 percent.
23 October 2017•2 mins read
