Helios Towers To Raise $125m Via IPO, List Shares On London Exchange

Helios Towers Limited, on Thursday, confirmed its intention to proceed with the initial public offering (IPO) of the ordinary shares of Helios Towers plc, a new holding company of the group.
The Company expects to raise a total of US$125m from the IPO, in addition to the sale of existing shares by existing shareholders, including, funds managed by Newlight Partners LP, Helios Investment Partners, Albright Capital Management LLC, RIT Capital Partners plc, International Finance Corporation, IFC African, Latin American and Caribbean Fund, L.P., Millicom Holding B.V. and Bharti Airtel.
Proceeds of the IPO, the group noted, will provide enhanced flexibility to take advantage of future opportunities in line with the Company’s growth strategy, either in current markets or new geographies. This will include growing and expanding relationships with customers by adding co-location tenants and colocation amendments; growing organically through the construction of additional sites on a build-to-suit basis for telecommunications operators; strategic acquisitions of site portfolios; and expansion into adjacent technologies and services, and be used for general corporate purposes.
The company says it is targeting a free float for Helios Towers Plc of at least 25% and expects that the company “would be eligible for inclusion in FTSE UK indices.
There is also an over-allotment option of up to 15% of the total offer will be made available, the statement stressed.
Helios Towers intends to apply for admission of the shares to the premium listing segment of the Official List of the UK’s Financial Conduct Authority (FCA) and trading on the main market of the London Stock Exchange Plc (LSE).
Admission of the shares for listing, the company said in a statement, is subject to the requisite regulatory approvals being obtained.
The final offer price in respect of the IPO will be determined following a book-building process, with admission currently expected to occur on October 2019.
The statement quoted Kash Pandya, chief executive of Helios Towers as confirming the “intention to float Helios Towers on the London Stock Exchange. The
The sub-Saharan telecoms market is one of the fastest-growing markets in the world.
“Helios Towers has a proven track record of growth, providing high quality, economically compelling and reliable tower infrastructure and services that drive economic development. We believe that we are well-positioned to drive the long-term growth and value of our business and look forward to presenting our investment proposition to investors.”
Already, the company says Merrill Lynch International (BofA Merrill Lynch), Jefferies
International Limited (Jefferies) and The Standard Bank of South Africa Limited (Standard Bank) has been engaged to act as Joint Global Coordinators and Joint Book-runners. Meanwhile, EFG Hermes UAE Limited (EFG Hermes) and Renaissance Securities (Cyprus) Limited (Renaissance Capital) to act as Joint Book-runners in the event the IPO proceeds.

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