London listing on the cards for Helios Towers

London listing on the cards for Helios Towers

Helios Towers is again planning to list on the London Stock Exchange after abandoning its previous attempt 18 months ago.

The tower firm plans to issue new shares as well as selling stakes currently held by companies including Bharti Airtel, IFC and Millicom.

It aims to free-float a minimum of 25% of the company’s stock in the hopes of raising $125 million, which it will use to “take advantage of future opportunities in line with the company’s growth strategy, either in current markets or new geographies”.

When it initially attempted to list on the LSE, the company was expected to be valued at £2 billion ($2.5 billion). Although Helios noted at the time that several institutional investors were keen, its shareholders nixed the float.

Focused on Africa, Helios Towers operates around 7,000 towers across Democratic Republic of Congo, Ghana, Republic of Congo, South Africa and Tanzania. The business is incorporated in Mauritius and its clients include Airtel, MTN, Orange, Tigo and Vodacom.

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