London Stock Exchange welcomes Digital 9 Infrastructure plc to the Specialist Fund Segment of the Main Market
London Stock Exchange welcomed Digital 9 Infrastructure plc to the Specialist Fund Segment of the Main Market today, after it raised gross proceeds of £300 million in its Initial Public Offering.
Digital 9 Infrastructure plc (DGI9) is a newly established, externally managed investment trust. It will invest in a range of digital infrastructure assets which deliver a reliable, functioning internet. The portfolio will comprise future proofed, non-legacy, scalable platforms and technologies including (but not limited to) subsea fibre, data centres, terrestrial fibre, tower infrastructure and small cell networks (including 5G). DGI9 will focus, primarily, on digital infrastructure investments which are operational and with an existing customer base.
Following the completion of the offer, DGI9 will acquire Aqua Comms, a platform owning and operating some 14,300km of the most reliable and resilient trans-Atlantic sub-sea fibre systems - the very "backbone" of the internet.
DGI9’s investment manager is Triple Point Investment Management LLP, an experienced manager with over £1.8 billion of private, institutional, and public capital and has extensive experience in asset and project finance, portfolio management and structured investments.
Akur Limited acted exclusively as Financial Adviser for Digital 9 Infrastructure plc and J.P. Morgan Cazenove acted as Global Coordinator and Sole Bookrunner on the IPO.
Jack Waters, Chair of Digital 9 Infrastructure plc said: "The Board is delighted that such a broad and deep investor base is as excited about D9 as we are. As planned, our first acquisition will be into Aqua Comms, a platform owning some 14,300km of modern, operational trans-Atlantic subsea fibre, representing the true backbone of the internet. We expect this first transaction to underpin our 6p dividend target.
As a board we look forward to working together with Triple Point in rapidly deploying the rest of the proceeds into other critical digital infrastructure assets."