Private Capital-Backed Helios Towers Raises USD362 Million in IPO
Posted On: 15 Oct 2019 | Source(s): Bloomberg | Author(s): Swetha Gopinath and Loni Prinsloo
UK-based, Africa-focused telecommunications infrastructure company Helios Towers has raised GBP288 million (approximately USD362 million) through its initial public offering (IPO) on the London Stock Exchange. The company sold shares at a price of GBP1.15 (USD1.45) per share in the listing. Helios operates 6,800 mobile network cellular towers in Ghana, Congo, the Democratic Republic of the Congo, Tanzania, and South Africa. In 2009, Africa-focused private investment firm Helios Investment Partners led a USD350 million investment with participation from Albright Capital Management and Soros Strategic Partners to found Helios Towers. The company later raised funding from Investec Asset Management, IFC Asset Management Company, and Providence Equity Partners.