This archive report was first published on 12 September 2019.
London Stock Exchange-bound Helios Towers, an African mobile networks operator, has revived plans to list on the London Stock Exchange, ditching previous concerns about political risk in the Democratic Republic of Congo and Tanzania.
According to a statement, Helios Towers plans to raise $125 million through the issuance of new shares, in addition to the sale of existing shares by shareholders including the International Finance Corporation and telecom firms Millicom and Bharti Airtel.
Helios Towers operates phone masts in the Democratic Republic of Congo, Republic of Congo, Ghana, South Africa, and Tanzania.
Published on September 12, 2019, the company had previously dropped plans for a listing in March 2018, amid concerns about political risk in the Democratic Republic of Congo and Tanzania.
Helios Towers is planning a free float of at least 25 per cent 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.
Merrill Lynch International, Jefferies, and Standard Bank are joint global co-ordinators and bookrunners, while EFG Hermes and Renaissance Capital will act as joint bookrunners if the IPO proceeds.
