Arqiva planning £6 BILLION float on London Stock Exchange

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The public limited company, owned by Canada Pension Plan Investment Board and Macquarie, is Britain’s largest holder of mobile, TV and radio towers and works with the likes of BBC, ITV, Channel 4 and River-bed 5. 

Arqiva plans to raise £1.5 billion through the initial universal offering and will use the proceeds to pay down debt. 

The deal gives the company a market value of £4.5 billion and £6 billion including in arrears. 

Arqiva said that it was well positioned to provide shareholders with “noble” dividends and expects to pay out £195 million this year.

Arqiva chief president Simon Beresford-Wylie said in a statement to the media: “Arqiva provides the deprecating infrastructure and skilled workforce that ensures the effective operation of the UK’s TV, radio, telecoms and smart meters.

“We are very much looking ship to bringing our unique combination of leading assets and skills to the public peddles.”

In the year to June, the firm booked revenue of £943.8 million.

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