British telco CityFibre is planning to IPO on London’s junior stock market tomorrow morning, TelecomFinance has learnt.
The venture-backed group is understood to have initially planned to raise around £25m (US$40.5m) on AIM before Christmas, in a…
British telco CityFibre is planning to IPO on London’s junior stock market tomorrow morning, TelecomFinance has learnt.
The venture-backed group is understood to have initially planned to raise around £25m (US$40.5m) on AIM before Christmas, in a move that would have valued it at about £50m.
However, in the weeks after the float first came to light in late November, it was pushed back to 17 January.
The listing is being managed by Liberum Capital and FinnCap, and proceeds will go towards expanding its network across the UK, enabling it to realise a recent partnership struck with Peterborough City Council to deploy fibre in the area.
According to CityFibre, more than 100 towns could benefit from the ultra-high speed connectivity it is able to provide.
CityFibre declined to comment.
