(Alliance News) - Digital 9 Infrastructure PLC on Friday said it raised GBP300 million in its Main Market float in London, with some of the funds going towards investing in 5G infrastructure.
The digital infrastructure assets investor is managed by Triple Point Investment Management LLP.
Digital 9 issued 300 million shares at GBP1.00 each in its initial public offering. Back in February, it said it would raise GBP400 million through the issue of 400 million shares.
Shares in the company will begin trading in London on Wednesday.
In February, when proposing plans for a Main Market float, Digital 9 added that it also planned to buy Aqua Comms, a trans-Atlantic subsea fibre systems operator.
The transaction is close to completion, Digital 9 said on Friday. The deal gives a USD215 million enterprise value to Aqua Comms, which has key customers such Microsoft Corp, Facebook Inc and Apple Inc.
"As a board we look forward to working together with Triple Point in rapidly deploying the rest of the proceeds into other critical digital infrastructure assets," Digital 9 Chair Jack Waters said.
JP Morgan Securities PLC is acting as global coordinator and sole bookrunner.
London's Main Market has seen a flurry of IPOs so far this year. Boot maker Dr Martens PLC, greeting cards retailer Moonpig Group PLC and online auction operator Auction Technology Group PLC are among the largest, though these will be eclipsed by Deliveroo PLC's upcoming float.
By Eric Cunha; ericcunha@alliancenews.com
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Digital 9 (DGI9)