Leading telecoms infrastructure company, Helios Towers Africa Ltd, has reignited its plans to list on the London Stock Exchange (LSE). The company is looking to raise $125 million through the issuance of new shares, in addition to the sale of existing shares by shareholders.
At least 25 percent of the Helios is expected to be free-floated on the London bourse. According to the company’s statement, proceeds from the listing will be deployed into expanding its services, including possibly into new countries.
Merrill Lynch International, Jefferies and Standard Bank are joint global coordinators and bookrunners while EFG Hermes and Renaissance Capital will act as joint bookrunners if the IPO proceeds, Helios said.
Last year, Helios abandoned a plan to go public in an initial public offering (IPO) owing to concern about political risk in some of the countries it has operations (DRC and Tanzania), Reuters reported. The public offering was expected to raise the firm’s value to $2.47 billion.
The company’s decision to revive the listing plan comes as continental mobile network operators (MNOs) are gearing up to launch 5G in Africa in the coming years. Helios Towers currently provides towers access for a number of Africa’s biggest carriers such as Airtel, Orange, MTN, Click here to read entire article
Source:: Ventures Africa