CityFibre Infrastructure Holdings plc
(“CityFibre” or the “Group”)
Admission and First Day of Dealings
CityFibre Infrastructure Holdings plc (AIM: CFHL), the company that owns, builds and operates fibre optic infrastructure, is pleased to announce that Admission and trading of its Ordinary Shares commences at 8.00am today on the AIM market of the London Stock Exchange (“AIM”).
- The Fundraising raised approximately £16.5 million, before expenses, through the issue of 27,653,276 Ordinary Shares;
- The total number of Ordinary Shares in issue at Admission is 52,314,648, giving the Group a market capitalisation of approximately £31.4 million at the Issue Price;
- The proceeds of the Fundraising will be used to expand the Group’s fibre optic infrastructures, by connecting businesses, local government and consumer customers to its networks, and to deploy infrastructure in selected regional cities, either through the construction of new networks or the acquisition of existing fibre infrastructure;
- finnCap plc is acting as Nominated Advisor and finnCap plc and Liberum are Joint Brokers to the Group; and
- CityFibre’s TIDM Code is CFHL and its ISIN number is GB00BH581H10.
- CityFibre owns, builds and operates fibre optic infrastructure and is the largest independent provider of fibre infrastructure to mid-sized cities and major towns, providing gigabit capable infrastructure for enterprise and public sector organisations, service providers, mobile network operators and businesses.
- CityFibre is well placed to play a significant role in the deployment of fibre optic networks to meet the growing demand for increasing connectivity speeds as data usage grows exponentially, driven by widespread use of the internet and the proliferation and rapid adoption of cloud computing applications.
- The Group adopts a low risk approach by aggregating demand from private sector anchor customers to facilitate the initial build out of the infrastructure and also enters into long-term agreements with service providers and wireless operators to provide gigabit speed connectivity to local authorities, businesses and consumers.
- The Directors believe there is an opportunity for CityFibre to connect significant additional customers to its currently deployed fibre networks, thereby increasing their utilisation as well as to own and operate fibre optic infrastructures in many more towns and cities across the UK.
- Programmes of fibre optic infrastructure investment are underway in many countries and CityFibre has an opportunity to play a significant role in the deployment of fibre optic broadband networks in the UK.
Greg Mesch, CEO of CityFibre, commented:
“We are delighted to be listing on AIM at such an exciting period in the Company’s development. The IPO will enable CityFibre to accelerate its growth ambitions and continue to capitalise on a number of exciting opportunities.
“Our development pipeline is already under way for 2014 in which we plan to bring further Gigabit cities online whilst continuing to invest in our established UK footprint. The need for pure fibre connectivity continues to drive our business and we look forward to updating both the market and our shareholders on our strategic progress over the coming months.”
The admission document can be found on the Group’s website: www.cityfibre.com.
For further information, please contact:
CityFibre Infrastructure Holdings plc
Greg Mesch, Chief Executive Officer
Terry Hart, Chief Financial Officer
Tel: 0845 293 0774
finnCap (Nomad and Joint Broker)
Stuart Andrews / Christopher Raggett (Corporate Finance)
Simon Johnson (Corporate Broking)
Tel: 020 7220 0500
Liberum (Joint Broker)
Simon Atkinson / Richard Bootle
Tel: 020 3100 2000
Jeremy Garcia / Fiona Henson / Gabriella Clinkard
Tel: 020 7466 5000
Notes to Editors:
CityFibre owns, builds and operates a fibre optic infrastructure. It is the largest independent provider of fibre infrastructure to mid-sized cities and major towns, providing gigabit capable infrastructure for enterprise and public sector organisations, service providers, mobile network operators and businesses.
CityFibre has the opportunity to use the deployed fibre optic infrastructure to deliver high speed internet either directly to users, or more typically, indirectly via third party service providers.
CityFibre is based in London, United Kingdom and its shares trade on the AIM Market of the London Stock Exchange (AIM: CFHL).
To find out more, please visit: www.cityfibre.com