Manx Telecom is preparing for a float on London’s junior stock market that will value it at about £150m, according to reports on Sky News tonight. (Wednesday)
The news organisation says it understands that Manx Telecom is expected to announce in the next few weeks that it will seek a listing on the Alternative Investment Market.
It claims the move will provide an exit for Manx’s main shareholder, the private equity group Hg Capital.
It says Liberum Capital, an investment bank, has been appointed to work on the flotation.
Employing several hundred people, Manx has a track record of technological innovation.
Sky News understands Manx’s management team will begin holding discussions with City institutions before the end of January, according to an insider.
More is expected on this story tomorrow.