Digital 9 Infrastructure, an investment trust, today announced that it was launching a £400m London initial public offering (IPO).
The trust, which is newly established, will invest in a range of digital infrastructure assets, including subsea fibre, data centres, terrestrial fibre, tower infrastructure and small cell networks.
It will be externally managed by Triple Point Investment Management, a firm with £1.8bn on its books.
The firm is targeting annual returns of 10 per cent, with an initial dividend target of six per cent.
Up to £160m of proceeds from the listing is expected to be invested into Aqua Comms, a platform owning and operating some 20,000km trans-Atlantic sub-sea fibre systems.
It has also secured right of first refusal for a $3bn pipeline of opportunities from Aqua Comms developer Aqua Ventures.
James Cranmer, managing partner of Triple Point Investment Management said: “Digital 9 Infrastructure is an opportunity to invest in the true backbone of the internet.
“From day one, DGI9 will deliver returns underpinned by 20 year plus contracted revenue from some of the largest companies in the world, including Facebook, Apple, Amazon, Netflix, Google and Microsoft.
“The pandemic has only accelerated the fundamental transition to a digital economy whose growth was already unstoppable.”
Digital 9 Infrastructure expects to publish a prospectus in March 2021 and complete the IPO shortly afterwards.