Cordiant Digital Infrastructure Ltd (LSE:CORD, FRA:86L) has revealed plans to migrate its shares to the FCA’s Official List, a move it said should lift the fund’s market profile and liquidity while improving access for retail investors and supporting eligibility for the FTSE UK Index Series.
Alongside the proposal, the company said it expects to call a general meeting in April 2026 to seek shareholder approval for changes to its articles and investment policy.
"As we progress towards our proposed Migration to the Official List on the LSE, we believe the Company is entering an important new phase. Inclusion in the Official List has the potential to broaden our shareholder base, improve trading liquidity, and support eligibility for major equity indices," said chair Shonaid Jemmett-Page.
"Combined with the underlying strength of our assets, this step reflects our confidence in the long-term opportunities ahead and our commitment to delivering value for all shareholders."
Wednesday's update came alongside a third-quarter trading statement that showed Cordiant's continued portfolio growth.
For the nine months to 31 December 2025, portfolio revenue was £262.9 million and portfolio EBITDA was £125.1 million, representing constant-currency growth of 8.9% and 7.1% respectively. The board said the target 4.35p dividend was 1.8x covered by AFFO at 31 December.
Cordiant reported £240.8 million of total available liquidity, with consolidated gearing of 40.7% and net leverage of 4.7x, and noted that more than 70% of outstanding debt is fixed or hedged.
Operationally, it flagged progress at CRA’s 26MW Prague Gateway data centre development, where groundworks have been completed and an independent valuation is expected to be reflected in the 31 March 2026 NAV, ahead of a planned main construction phase starting in summer 2026.
The portfolio also continued to add commercial and strategic momentum: CRA completed the acquisition of IPTV/OTT platform developer nangu.TV in December, while Poland’s Emitel signed and renewed radio and IoT-related contracts, including a PLN15.3 million tender win with Polskie Radio.
Steven Marshall, executive chair of Cordiant Digital Infrastructure Management, highlighted that the investment company is focusing on "operational excellence", to capture strategic growth opportunities and create sustained value for shareholders.
"It is clear how far the portfolio has evolved in the five years since the Company's IPO," Marshall said.
"Through disciplined capital deployment, selective bolt‑on acquisitions, and a consistent Buy, Build & Grow strategy, we have transformed a collection of high-quality digital infrastructure assets into diversified, scalable operating platforms.
"The progress we continue to deliver, from revenue and EBITDA growth to expanding capabilities across data centres, fibre and communications towers, reinforces the strength of our long‑term approach."