Helios Towers Revives Plans To List On London Stock Exchange
The African mobile networks operator Helios Towers has announced that it has again revived its plans to list in London, after ditching plans for an initial public offering (IPO) last year which was estimated to value the company at over two billion pounds ($2.47 billion).
Helios Towers issued a statement revealing that it plans to make $125 million by issuing new shares, in addition to the sale of its existing shares by shareholders including the telecoms operators Bharti Airtel and Millicom, as well as the International Finance Corporation.
Helios operates phone towers in Ghana, the Democratic Republic of Congo, Tanzania and South Africa.
It dropped its previous plans for a listing in March last year, amid concerns around political risk in the DRC and Tanzania.
Helios is now planning a free float of roughly 25% of the company, with a listing on the London Stock Exchange, and has said that it would use the proceeds to expand its services, including possibly widening its reach into new countries.
According to Helios, Standard Bank, Merrill Lynch International and Jefferies are joint global bookrunners and co-ordinators, and EFG Hermes and Renaissance Capital would act as joint bookrunners if the IPO forges ahead.
Credit: This article originated from www.telecom.economictimes.indiatimes.com