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Antin progresses IPO plans

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Antin Infrastructure Partners has advanced its plans to list on the Euronext Paris Stock Exchange.

Antin confirmed its intentions on Friday, saying the IPO would involve a capital increase "of about €350 million". This would be achieved through the issuance of new shares as well as a limited sale of existing shares by the company's co-founders, Alain Rauscher and Mark Crosbie.

However, Rauscher declined to put a figure on the market valuation that can be expected.

At a news conference on Friday, the firm said: “Since Antin’s creation in 2007, we have targeted majority stakes in infrastructure businesses across Europe and North America in the energy and environment, telecom, transport and social infrastructure sectors. We operate in a market of approximately €670 billion with substantial room for continued long-term growth.

“At a time when innovation and reinvigorated societal priorities continue to accelerate the global shift towards a greener, more sustainable and connected future, we believe we have a once-in-a-generation opportunity to upscale and build the infrastructure for tomorrow.”

The IPO story dates back to July, when Antin appointed advisors for the transaction. Antin has named JP Morgan and Morgan Stanley as joint global coordinators, as well as Bank of America, BNP Paribas and Citigroup as joint bookrunners.

Later that month, Antin acquired UK-based data centre and cloud computing business Pulsant from Oak Hill Capital and Scottish Equity Partners, through Antin Infrastructure Partners V. That gave it a foothold in edge computing as well as the fast-growing data centre sector.

Antin said last week that an IPO would allow it to "accelerate growth and diversify" its portfolio. New geographic markets were also cited in its plans.

In addition to telecoms infrastructure, Antin operates across energy and environment; transport; and social infrastructure.