UK transmission and TV facilities company Arqiva has postponed its planned Initial Public Offering (IPO) on the London stock market.
The decision was unexpected, and could indicate that Arqiva is in negotiation for a trade sale, which was its initial plan.
The IPO was expected to raise some £6 billion (€6.72bn) in what would have been the UK’s largest float this year. In the IPO prospectus, Arqiva said it hoped to raise some £1.5 billion in order to pay down debt.
In a Statement, Arqiva said that it will “postpone” its proposed initial public offering. “The Board and Shareholders have decided that pursuing a listing in this period of IPO market uncertainty is not in the interests of the Company and its stakeholders, and will revisit the listing once IPO market conditions improve.”