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: 2,656


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

 

You may also like...
Yahoo punishes CEO, top lawyer for data breaches...

Saraki won’t resign, let Abu Ibrahim do his...

Troops step up offensive inside Sambisa Forest, destroy...

Sports Minister Danagogo put to shame as FIFA...

ASUU strike: Our hunger strike successful —HURIWA •Top...

Our call on Deltans, investors yielding results —...

AU @ 50: Summit concludes with key decisions...

Stop playing politics with military equipment, Dickson warns...

2016 Budget passage not possible in February: National...

EFCC arrests three Internet fraudsters

2019 APC presidential ticket: Buhari must be prepared...

Fire kills 12 in Sokoto

 

Latest News Osun Election: Controversy as INEC official says his boss ordered him to destroy authentic poll result Double Tragedy: Ras Kimono’s wife dies three weeks after his burial Kogi LG workers now to receive 54 pct of salary Water projects: Minister pleads with court for more time to render account PDP screens 30 governorship aspirants in North East Anti-Corruption War: Strike weakens CCB, CCT Gunshot at Osun INEC office Flood overruns more Delta riverine communities, victims sleep in canoes PDP is party to beat in 2018, says Makarfi Aisha Buhari to address UN meeting on Tuberculosis Osun: INEC has shown its readiness for 2019 — Group Plateau SSG, commissioner resign to contest 2019 elections

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (396,547 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (376,776 views) Shameless Genevieve Nnaji exposes breasts in public (308,533 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (250,627 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (232,341 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,639 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (200,092 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (181,672 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (165,741 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,393 views) Lagos plane crash: Journalist releases victims’ names (158,174 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,914 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (63) Business & Economy (3,623) Business Verdict (52) Columnists (933) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (547) Features (652) Global Business Monitor (301) International (2,427) Interview (165) Live Commentary (28) Love Matters (144) News (39,082) Opinion (1,110) Pidgin (11) Politics (6,711) Religion (872) Sports (1,701) Stock Watch (34) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

I am Imo State's New Governor -- Okorocha's son-in-law Uche Nwosu...

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement