Isle of Man fixed line incumbent Manx Telecom is reportedly preparing to float on AIM, the London Stock Exchange’s international market for smaller growing companies, the Financial Times reports. The telco is currently majority owned by HgCapital, which acquired its stake in Manx Telecom from Spanish telecoms giant Telefonica for GBP158.8 million (approximately USD230 million at that date). According to the report, Manx Telecom has appointed Liberum Capital and Oakley Capital to advise on the flotation, which it is claimed could generate more than GBP150 million, dependent on what stake is divested; the company is expected to be valued at about GBP250 million in total. However, a final decision to list the telco has yet to be made, and HgCapital decline to comment on the matter.
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