Biggest African Phone-Tower Firms Are Said to Plan 2018 IPOs
- IHS said to seek New York listing; Helios, Eaton in London
- Towers operators face rising demand, high valuations
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Three of Africa’s largest telecommunication towers companies plan to pursue share sales in either London or New York early next year, 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 $10 billion, plans to list in New York, said the people, who asked not to be identified as the information isn’t public. Helios Towers Africa LLP is looking at a valuation of at least $2 billion, while Eaton Towers Ltd. is aiming for about $2 billion, the people said. Both will list in London, while Eaton is also considering a secondary listing in Johannesburg, they said.