IHS Towers

IHS Holding is a British telecom infrastructure operator. By October 2021, the company is one of the largest suppliers of telecommunications infrastructure in Africa, Europe, Latin America and the Middle East by the number of towers.

History

2021

Purchase of 5.7 thousand cell towers from MTN Group

In mid-November 2021, one of the largest independent owners, operators and developers of general telecommunications infrastructure in the world in terms of the number of towers, IHS Holding Limited signed agreements with MTN Group to acquire 5.7 thousand towers in South Africa in the amount of 6.4 billion South African rands (about $410 million). It is expected that the deal to sell the tower infrastructure of Africa's largest mobile operator will be completed in the first quarter of 2022. More details here.

Entering the NYSE Exchange

In mid-October 2021, IHS Holding listed its shares on the New York Stock Exchange (NYSE). The company's IPO can hardly be called successful, given the decline in quotations on the very first day.

IHS Holding securities fell 18% to $17.12 on October 14, 2021. The owner of more than 30 thousand towers in the To Africa Middle East and South America sold shares at a price of $21 apiece, which is the lower limit of the planned range of $21-24. As a result of the transaction, the company raised $378 million, which it plans to spend on projects to scale its business. The company is expanding to take advantage of emerging markets, the agency said. Bloomberg The market capitalization of IHS Holding on the day the company entered the exchange amounted to $7 billion.

British telecom infrastructure operator IHS Holding entered the NYSE with an estimate of $7 billion

Revenue will be used to develop in our current markets and enter new markets, "said Chief Executive Officer Sam Darvish. - We look at markets in Asia and Latin America, and if there is a new opportunity to get towers in the portfolio or go with a big project from scratch, we will definitely do it.

MTN Group, Africa's largest mobile communications company, was IHS's largest shareholder with a 29% stake before the IPO. A firm from Johannesburg sold some of the shares. French investment company Wendel SE, which owns 26%, retains its entire stake.

The company said that after the listing, MTN will have a little more than 85 million shares. This package is estimated at $1.46 billion.^[1][2]

Notes