The Isle of Man’s main telecoms operator is planning to hold talks before the end of January to list on UK junior stock market AIM, TelecomFinance understands.
Manx Telecom’s listing would provide an exit for private equity firm Hg Capital, its…
The Isle of Man’s main telecoms operator is planning to hold talks before the end of January to list on UK junior stock market AIM, TelecomFinance understands.
Manx Telecom’s listing would provide an exit for private equity firm Hg Capital, its majority shareholder, and value it at around £150m (US$245m).
Liberum Capital is already working on the flotation and the plans could be announced in the next few weeks.
Manx Telecom, Hg Capital and Liberum Capital declined to comment.
The telco was acquired by Hg Capital and CPS Partners in June 2010 for £158.5m (US$233m).
An IPO would come hot on the heels of London-based telco CityFibre’s AIM admission, which is due tomorrow.
