NTR says no flotation plans until 2008

Infrastructure and utility firm NTR said today it would consider floating the company in three years but had no immediate plans…

Infrastructure and utility firm NTR said today it would consider floating the company in three years but had no immediate plans for a stock market listing.

"As you move out into 2008, 2009/10 listing would be very much on the agenda. It always remains an option," NTR chief executive Jim Barry said.

The company has a value of €858 million based on trades in the company's unlisted stock by its brokers Davy, NCB and Goodbody, according to NTR's website.

Mr Barry said a listing of the company's broadband unit, Irish Broadband, in the next 12 to 18 months was one option being considered as part of a strategic review.

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However, he dismissed media speculation the company was planning to float its wind energy unit Airtricity, saying its heavy investment programme did not make it a good listing candidate.

"It is still two or three years away. I don't think you would get away with that kind of expenditure in the public market," Barry told reporters.

NTR develops and operates infrastructure for toll roads, waste management, wireless broadband and renewable energy.

The company plans to invest heavily in renewable energy and recycling-led waste management, while stopping its expansion in toll roads.