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IHS Is Said to Pull IPO Valuing Towers Firm at $10 Billion

  • IHS investors include Goldman; IPO meant to raise $1 billion
  • IPO is third to be postponed by African towers firm in 2018
Updated on

IHS Towers Ltd. has postponed an initial public offering that would have valued the company at as much as $10 billion, according to people familiar with the matter, because of concern that a sale may take place too close to an election in its home market of Nigeria.

Africa’s largest tower company, whose shareholders include Goldman Sachs Group Inc., Wendel SA and South African wireless carrier MTN Group Ltd., was seeking to raise about $1 billion in New York, said the people, asking not to be identified as the details aren’t public. The share sale may now be postponed until next year, they said.