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IHS Towers announces $21 as pricing of Initial Public Offering for NYSE listing

Janet John by Janet John
October 15, 2021
in Tech News
IHS Towers announces $21 as pricing of Initial Public Offering for NYSE listing

Lagos Nigeria, July 2012: IHS tower sites Photograph by Mike Goldwater

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IHS Holding Limited (“IHS Towers”), one of the world’s biggest independent owners, operators, and developers of shared telecommunications infrastructure announced yesterday the pricing of its first public offering of 18,000,000 ordinary shares at a price of $21.00 per share.

The offering’s underwriters will additionally have a 30-day option to acquire up to an additional 2,700,000 ordinary shares from IHS Towers at the first public offering price, minus the underwriting discount, at the initial public offering price.

The ordinary shares will trade on the New York Stock Exchange under the ticker symbol “IHS” on October 14, 2021.

RelatedPosts

IHS Towers acquires MTN’s over 5000 telecom towers at $412 million in South Africa

MTN expands scope of tower service, targets rural connectivity

What you should know

IHS Towers is the biggest operator of mobile phone towers in Africa. It also has a presence in the Middle East and South America.

The company attempted to issue its shares on Wall Street for the first time in 2018, but market views were not favourable.

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IHS Towers is 29% owned by MTN.

The closing of the offering is expected to occur on October 18, 2021, subject to satisfaction of customary closing conditions.

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Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are acting as joint lead book-running managers for the offering.

RBC Capital Markets, LLC, Barclays Capital Inc. and Absa Bank Limited are acting as joint book-running managers for the offering.

Other financial institutions acting as co-managers for the offering are Cowen and Company, LLC, Investec Bank plc, Renaissance Securities (Cyprus) Limited, FirstRand Bank Limited (London Branch), acting through its Rand Merchant Bank division, Academy Securities, Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc., Siebert Williams Shank & Co., LLC and Tigress Financial Partners LLC.

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