Aqua Comms owner sees more investment after stock exchange move
Telecoms investment group Digital 9 is hoping that it will attract more investment after being admitted to the premium segment of the London Stock Exchange.
The UK’s Financial Conduct Authority (FCA) said yesterday that shares in Digital 9, which owns Aqua Comms and other significant infrastructure, have been admitted to the premium listing segment of the official list.
Phil Jordan (pictured), chair of Digital 9, said: “The move represents a significant milestone for [Digital 9] that we believe will increase our profile as an investment company, unlocking further attractive investment opportunities, and resulting in a more diversified shareholder register with improved liquidity, all of which should be to the benefit of shareholders.”
Digital 9 had an initial public offer of its shares in March 2021 and, with that and four subsequent share placings, has raised total equity of £905 million and a revolving credit facility of £375 million.
Investments include subsea cable operator Aqua Comms, data centre company Verne Global, data centre and landing station SeaEdge UK1, and most recently Arqiva, a UK-based terrestrial television and radio broadcasting network, which also offers data, network and communications services.
Digital 9 also has a partnership with Facebook owner Meta to build a 10,000km fibre system from Europe to India, called EMIC-1.
Jordan, who is also group chief information officer at the Sainsbury’s supermarket group, said: “The [Digital 9] board is delighted that the company’s shares have been admitted to the official list and to trading on the premium segment of the london stock exchange.”