Fidelity bank banner Bayelsa State 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 Share on Google+

Views: 2,383


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 Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Bayelsa elders, chiefs want Peace Corps Bill signed...

IGP orders immediate removal of roadblocks nationwide

Kidnappers of 6 Lagos students demand N1bn ransom...

PDP Convention: Delegates arrive; security men seal off...

Aiteo, Guinness, Nigerian Breweries chiefs to grace Nigerian...

Court dissolves Toke Makinwa’s marriage

Nigeria receives $6bn inflow of Direct Foreign Investment...

Al-Makura, Maku in war of words

ACF asks FG not to implement Confab Report...

Super Eagles vanquish Sudan, revive Nations Cup qualification...

Ikpeazu emerges best PDP Governor

BREAKING: Manchester City are Premier League champions!

 

Latest News Oshiomhole, 19 others elected at APC Convention World Cup: Football fan slips into coma while celebrating Super Eagles’ victory APC Convention: Drama as Oyegun’s security detail barred from Eagle Square HURIWA to world leaders: Intervene and stop crackdown on opposition in Nigeria Ekiti Guber: INEC, APC preloading card readers — Fayose Suspected herdsmen kill 18 in Adamawa village APC National Convention: Gov. Sani-Bello optimistic of peaceful, rancor-free exercise Prophet to Obasanjo: Seek forgiveness over June 12 Cholera: 24 new cases recorded in Adamawa APC loses members to PDP in Edo Lai Mohammed faults CPJ, says no journalist is in detention in Nigeria NHRC must push for quick investigation into Bukhari’s murder, end to impunity — SAMDEN

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (352,955 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (352,771 views) Shameless Genevieve Nnaji exposes breasts in public (280,883 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (230,543 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (209,382 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (209,301 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (182,186 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (164,376 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (154,107 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,971 views) Lagos plane crash: Journalist releases victims’ names (144,146 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,875 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,266) Business Verdict (44) Columnists (871) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (507) Features (607) Global Business Monitor (284) International (2,050) Interview (155) Live Commentary (28) Love Matters (124) News (36,439) Opinion (1,005) Pidgin (10) Politics (5,322) Religion (772) Sports (1,560) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Nigeria vs Iceland 2-0 All Goals & Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement