CityFibre UK Target Market Value of GBP50m with AIM Stock Market Float

CityFibre, which manages and builds ultrafast pure fibre optic networks in several large towns and cities around the United Kingdom, hopes to boost its expansion plans and achieve a total market value of £50 million by floating through AIM.

AIM is the London Stock Exchange’s international market for smaller growing companies and CityFibre believes that joining this group could help it to raise an extra £25 million, which would then be reinvested to help build out its urban fibre optic infrastructure.

According to The Express, CityFibre’s plan is supported by venture capitalist Jon Moulton and joint brokers FinnCap and Liberum Capital.

Greg Mesch, CEO of CityFibre, said:

“Fibre Broadband is widely viewed as the utility of the future and pure fibre networks are the only future-proofed solution.

There are over 100 towns and ­cities in the UK that currently do not have ultra high speed connectivity, so the opportunity for CityFibre to play a part in modernising digital infrastructure is extremely exciting.”

The news follows hot on the heels of CityFibre’s new £30m deal to roll-out an independent metro fibre optic and telecoms network around the city of Peterborough in the East of England (here), which will be similar to the dark fibre, public sector and business focused infrastructure that it deployed in York a year or so earlier. Last week the operator also signed a new strategic ISP partnership with ASK4 (here) and has long planned to expand even further.