Save Austin Fair Yudala banner
Africa’s largest cell-tower firms eye stock markets

By News Express on 28/11/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 324


Three of Africa’s largest telecommunication tower companies plan to pursue share sales in either London or New York early in 2018, taking advantage of high industry valuations to fund expansion, according to people familiar with the matter.

Closely held IHS Towers, targeting an enterprise value of $10bn, planned to list in New York, said the people, who asked not to be identified as the information was not public.

Helios Towers Africa was looking at a valuation of at least $2bn, while Eaton Towers was aiming for about $2bn, the people said. Both would list in London, while Eaton was also considering a secondary listing in Johannesburg, they said.

Africa’s phone mast industry is booming as the increasing use of wireless devices leads to a leapfrogging of traditional land-line connections. Mobile subscriptions in sub-Saharan Africa are set to surge 41% to 990-million in five years, according to Ericsson.

Tower operators, which also sell power to remote sites in Africa, are looking to build new masts and buy existing ones from carriers such as MTN Group and Vodacom Group.

The planned stock sales are being timed to line up with robust interest among investors for the stable returns and growth offered by tower companies, which host equipment for carriers on their masts.

Tower operator shares are near record highs globally, with many making acquisitions as phone companies offload infrastructure. Shares in Spain’s Cellnex Telecom have gained 52% so far in 2017 and American Tower is up 39%.

“There is strong demand for tower company assets and similarly investor appetite for emerging market telecom businesses,” said Laura Graves, MD for Africa at TowerXchange, a networking and advisory group for the towers industry. She said she expected IHS Towers, Helios and Eaton to each list about half of their share capital to bring in new investors.

The African tower companies had each appointed banks and advisers and were meeting potential investors to test interest, said the sources. IHS has hired Goldman Sachs, Citigroup and Morgan Stanley; Helios Towers is working with Standard Bank, Bank of America Merrill Lynch and Credit Suisse; and Eaton Towers is working with JPMorgan Chase and UBS.

Representatives for IHS Towers, Helios and Eaton declined to comment. Credit Suisse, UBS, Bank of America Merrill Lynch and Standard Bank also declined to comment, while the rest of the banks did not respond to requests for comment.

Helios Towers said in September that it was exploring strategic options, including a potential listing on the London Stock Exchange, though it said no final decision had been made. (Bloomberg)

Source News Express

Posted 28/11/2017 9:16:22 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Uduaghan bags award on exemplary leadership in West...

MIKE AKPAN, ex-Newswatch Magazine General Editor, IS DEAD...

Malnutrition: 750,000 IDPs may die in 3 months:...

Ikpeazu signs N101.4 billion Abia 2016 Budget into...

APGA decries malfunctioning card readers

Lagos not part of Yorubaland — Oba Akiolu...

Court to rule on Yakubu’s challenge of $9.7m...

Saraki’s wife laments ordeal of the girl-child, calls...

3 die as a 2-storey building collapses in...

Guinness donates breathalyzers to FRSC for Ember Months...

Nigeria loses foremost scholar and novelist, Prof. Isidore...

Ebonyi lawmakers impeach Speaker

 

Latest News Police, DSS swoop on sellers of Naira notes, nab 13 Court declares Okonkwo Senator for Anambra Central, orders swearing-in Nigeria still investors’ destination, declares IMF CSOs, NGOs reject Bill for establishment of NGO regulatory commission Falana demands immediate dropping of controversial NGO Bill 400 beneficiaries of Okowa’s skill acquisition programmes exhibit products in Asaba Lagos Govt vows to enforce traffic law •Restricts shuttle services to barracks, higher institutions APC seeks investigation into brutalisation of Enugu Perm Sec Sani-Bello flags off Niger State rural roads maintenance programme Nigeria places high premium on labour matters — Udoma PDP reconciliation: Dickson visits Dokpesi, says party’s mandate should be grabbing power in 2019 Weatherman foresees likelihood of isolated showers/thundery activities over Lagos, Port Harcourt, Yenagoa, Calabar and Warri

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (301,124 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (285,983 views) Shameless Genevieve Nnaji exposes breasts in public (230,628 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (193,571 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (183,526 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (170,285 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (147,274 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (132,618 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (130,670 views) Lagos plane crash: Journalist releases victims’ names (119,135 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (115,567 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (112,264 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,820) Business Verdict (28) Columnists (777) Complaints & Requests (94) Enterprise & Opportunities (195) Entertainment (420) Features (523) Global Business Monitor (194) International (1,690) Interviews (138) Live Commentary (28) Love Matters (92) News (31,000) Opinion (845) Pidgin (9) Politics (4,214) Religion (654) Sports (1,381) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

MOBO Awards

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!