- September 13, 2019
- Posted by: Myles Freedman
- Category: Finance, More Africa News
Helios Towers, the African manager of telecom towers, has revealed its intention to relaunch an initial public offering (IPO) on the London Stock Exchange after the abandonment last year of the project that would bring him back 2 billion pounds sterling.
The company said the deal would raise $ 125 million (£ 101 million) through the issuance of new shares. It added that its existing shareholders, including Albright Capital Management, Millicom and Bharti Airtel, would also sell some of their shares.
The IPO of Helios Towers is coordinated by Bank of America Merrill Lynch, Jefferies and Standard Bank. Its success should not only allow the company to begin its stock market existence next month, but also generate profits for shareholders.
Helios said it is expected the float of at least 25% of the company, with the wish that it “be eligible for inclusion in the FTSE UK indices”.
Helios Towers Chairman Sir Samuel Jonah said the company plans to use the proceeds of the IPO to expand its services, including potential extensions in other countries.
“Telecommunications infrastructure is at the heart of development in Africa, and Helios Towers brings significant expertise to these rapidly growing markets. The group is well positioned to capitalize on infrastructure opportunities in some of the world’s most dynamic markets for the benefit of shareholders and local communities, “ said Sir Samuel Jonah.