Helios Towers revives IPO preparations

content halfwidth 15Helios Towers, one of the largest mobile tower operators in sub-Saharan Africa, has revived its plans to be listed on Johannesburg and the London Stock Exchange

If successful, the IPO is alleged to value the company at US$3bn.

In March of last year, Helios announced its intention for an initial public offering in London and Johannesburg to allow shareholders like Soros Fund Management LLC to reduce their stakes.

However, two weeks after the announcement, the plans were abandoned when the company reported that shareholders refused to collaborate with the plans, irrespective of being able to generate more interest from the IPO.

Helios owns about 6,700 towers spread across five African countries, serving customers including Airtel Africa Plc, MTN Group Ltd. and Vodacom Group Ltd. It’s the only independent tower operator in the Democratic Republic of Congo, Tanzania and Republic of Congo.

Helios has notable shareholders backed by investors like British banker – Jacob Rothschild, former US Secretary of State – Madeleine Albright, the World Bank’s International Finance Corp, and Millicom International Cellular.

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