Betting On Increased Demands For GSM Masts And Cell Sites, IHS Plc Raises $1billion

Businessday reports IHS has raised additional $1billion in investments. The company claim to have raised raised $522 million in new capital, $280 million in debt and $242 million in equity in the preceding year to fund its expansion across Africa. The report quoted the Chief Executive Officer Issam Darwish said as saying

IHS wants to increase the number of telecommunications towers under its management to 20,000 by 2016 from the 8,500 towers it currently runs in Nigeria, Cameroon and Ivory Coast, Darwish said on Aug. 5 in a phone interview from Beirut, Lebanon’s capital. “We have funding available for various opportunities that we are currently analyzing,” he said.

IHS Plc is a quoted company and posted a loss after tax of N2billion for the year ended April 2012. I did a review of the company sometime last year.