TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      The great crypto crash: the fallout, and what happens next

      22 June 2022

      Winter 1, Eskom 0

      22 June 2022

      What it will take to bring the Guptas to justice

      22 June 2022

      Inflation in South Africa spikes higher

      22 June 2022

      Eskom announces massive escalation in load shedding

      22 June 2022
    • World

      Tether to launch a stablecoin tied to the British pound

      22 June 2022

      Tech giants form metaverse standards body, without Apple

      22 June 2022

      There are still unresolved matters in Twitter deal, Musk says

      21 June 2022

      5G subscriptions to top one billion in 2022: Ericsson

      21 June 2022

      Crypto lenders face a DeFi drubbing

      21 June 2022
    • In-depth

      Goodbye, Internet Explorer – you really won’t be missed

      19 June 2022

      Oracle’s database dominance threatened by rise of cloud-first rivals

      13 June 2022

      Everything Apple announced at WWDC – in less than 500 words

      7 June 2022

      Sheryl Sandberg’s ad empire leaves a complicated legacy

      2 June 2022

      Tulipmania meets the real economy at WhatsApp speed

      30 May 2022
    • Podcasts

      How your organisation can triage its information security risk

      22 June 2022

      Everything PC S01E06 – ‘Apple Silicon’

      15 June 2022

      The youth might just save us

      15 June 2022

      Everything PC S01E05 – ‘Nvidia: The Green Goblin’

      8 June 2022

      Everything PC S01E04 – ‘The story of Intel – part 2’

      1 June 2022
    • Opinion

      Has South Africa’s advertising industry lost its way?

      21 June 2022

      Rob Lith: What Icasa’s spectrum auction means for SA companies

      13 June 2022

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022

      How AI is being deployed in the fight against cybercriminals

      8 April 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»Helios Towers listing likely to price at bottom end of range

    Helios Towers listing likely to price at bottom end of range

    News By Agency Staff14 October 2019
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    Helios Towers met with a tepid response for a long-delayed share offering that gives investors a foothold in Africa’s fast-growing wireless tower industry.

    The stock is likely to price at 115p apiece before the Tuesday listing, the bottom end of the initial range, bringing proceeds of about US$360-million, according to terms seen by Bloomberg. The company was originally looking to raise as much as $500-million.

    Shareholders including Millicom International Cellular and Bharti Airtel are selling down their stakes in the IPO, with Helios set for a market valuation of $1.42-billion to $1.79-billion and a minimum free float of 25%.

    While sellers often sought valuations in line with near-peak levels in publicly traded stocks, buyers have taken a more cautious view

    The London-based company has more than 6 800 towers spread across five African countries and needs the money to step up its roll-out of 4G mobile services and keep pace with soaring mobile data consumption on the continent.

    New share sales in Europe have struggled to drum up enough interest this year. With the exception of some recent, high-quality listings such as EQT and TeamViewer, IPOs have priced near or at the bottom end of their asking price ranges.

    While sellers often sought valuations in line with near-peak levels in publicly traded stocks, buyers have taken a more cautious view. CM.com and Congatec decided to delay their IPOs rather than see them fall flat.

    The London market is particularly quiet and Helios is one of several African and Middle Eastern companies that are helping to keep it alive.

    Second attempt

    Helios already had to cancel one IPO attempt last year. It was one of three African tower firms that tried to sell stock in London or New York. The most optimistic estimates gave them a potential combined value of $15-billion before choppy markets scuppered the plans and Helios’s two peers went down other routes.

    The biggest, IHS Towers, decided to raise $1.3-billion via the debt market in two offerings that will close next week. The other, Eaton Towers, is being bought by American Tower Corp.

    Helios serves carriers including Airtel Africa, MTN Group and Vodacom Group. It’s the only independent tower operator in the Democratic Republic of Congo and Tanzania, has operations in Ghana and launched in South Africa this year.  — Reported by Loni Prinsloo and Swetha Gopinath, (c) 2019 Bloomberg LP

    Eaton Towers Helios Towers IHS Towers
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleCybersecurity firm Sophos set to sell to Thoma Bravo
    Next Article Apple’s new iPhones are a hit – share price hits record high

    Related Posts

    The great crypto crash: the fallout, and what happens next

    22 June 2022

    Winter 1, Eskom 0

    22 June 2022

    What it will take to bring the Guptas to justice

    22 June 2022
    Add A Comment

    Comments are closed.

    Promoted

    More than card machines – iKhokha diversifies to reach more SMEs

    22 June 2022

    What does it cost to be a student in 2022?

    22 June 2022

    Rugged PCs bring AI to the edge in industrial settings

    21 June 2022
    Opinion

    Has South Africa’s advertising industry lost its way?

    21 June 2022

    Rob Lith: What Icasa’s spectrum auction means for SA companies

    13 June 2022

    A proposed solution to crypto’s stablecoin problem

    19 May 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.