African mast operator Helios Towers launches up to $1.8bn London IPO – source
African mobile networks operator Helios Towers Ltd priced its initial public offering at 115-145 pence per share on Wednesday, a source familiar with the matter told Reuters, implying a total valuation of $1.42-billion to $1.79-billion.
The company, which operates phone masts in the Democratic Republic of Congo (DRC), Republic of Congo, Ghana, South Africa and Tanzania, last year shelved plans for its IPO amid concerns about political risks in DRC and Tanzania.
Helios is planning a free float of at least 25% of the company, with a listing on the London Stock Exchange, and will use the proceeds for expanding its services, including possibly into new countries, it has said.
"It's a really good business in a strong sector, telecoms in Africa is the sort of growth story that appeals in this low-growth environment (globally)," said a source familiar with the transaction.
The decision to press ahead with the deal comes despite turbulent market conditions in Britain amid the long-running chaos surrounding the negotiations to exit the European Union, and the poor recent performance of other African IPOs in London.
Airtel Africa saw its shares drop 15% to 67 pence per share on its market debut after completing a £595-million IPO in late June. Since then shares have fallen further, and were as low as 50p on Tuesday.
Vivo Energy shares are down 1% since its May 2018 debut.
Bank of America, Jefferies and Standard Bank are joint global coordinators on the Helios deal while Renaissance Capital and EFG Hermes are joint bookrunners.
Books for the deal close on Oct. 14, with the first day of trading expected the following day.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...
VISIT SHOWROOM
ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
