ABN - African mobile mast operator Helios Towers is planning to list on the London Stock Exchange (LSE) and the Johannesburg Stock Exchange (JSE) in April this year.
The initial public offering (IPO) has been valued at around US$2.75 billion and will make Helios the third African telecoms tower operator scheduled to list in 2018, after IHS Towers and Eaton Towers.
Helios owns about 6,600 telecoms towers in Ghana, Tanzania, Republic of Congo and Democratic Republic of Congo.
“The demographics and growth prospects of the countries we serve are compelling and with our well invested towers base, we can continue to meet the needs of mobile network operators,” said CEO Kash Pandya.
The company reported core profit of US$146 million on revenue of $345 million in 2017, with net debt up 57% to $595.2 million.
Sub-Saharan Africa’s mobile phone mast industry is burgeoning due to rising wireless device usage that has contributed to a leapfrogging of traditional landline connections across the continent.
Mobile subscriptions in sub-Saharan region are set to surge by 41% to 990 million in five years’ time, according to Ericsson AB.