The company, owned by Canada Pension Plan Investment Board and Macquarie, is Britain’s largest owner of mobile, TV and radio towers and works with the likes of BBC, ITV, Channel 4, Channel 5.
Arqiva plans to raise £1.5 billion through the initial public offering (IPO) and will use the proceeds to pay down debt.
The deal gives the group a market value of £4.5 billion and £6 billion including debt.
The IPO comes after an aborted attempt to sell the firm privately.
Arqiva chief executive Simon Beresford-Wylie said: “Arqiva provides the critical infrastructure and skilled workforce that ensures the effective operation of the UK’s television, radio, telecoms and smart meters.
“We are very much looking forward to bringing our unique combination of leading assets and skills to the public markets.”
In documents filed on Monday, Arqiva said that it is well positioned to provide shareholders with “generous” dividends and expects to pay out £195 million this year.
In the year to June, the firm booked revenue of £943.8 million.
The company said that it expects to grow the firm by using its infrastructure network to meet the growing demand for data, smart energy and water metering “Internet of Things” applications.
Mike Parton, Arqiva chairman, said: “The IPO will enable Arqiva’s leadership team to continue to execute on its proven strategy, whilst pursuing additional growth opportunities through our tower portfolio and investing in next generation 5G and fibre technology and returning significant amounts to shareholders.
“Following the IPO, the Group’s balance sheet will be appropriate for an asset rich infrastructure company with long-term contracts, blue-chip clients and strong cash flows, providing investment and allowing for significant shareholder returns through a progressive dividend.”