Helios Towers IPO Likely to Price at Bottom End of Range
- Stock likely to price at bottom of range in long-awaited debut
- Listing will underpin 4G rollout as Africa data demand soars
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Helios Towers Ltd. met with a tepid response for a long-delayed share offering that gives investors a foothold in Africa’s fast-growing wireless tower industry.
The stock is likely to price at 115 pence apiece before the Tuesday listing, the bottom end of the initial range, bringing proceeds of about $360 million, according to terms seen by Bloomberg. The company was originally looking to raise as much as $500 million.