TMT Finance World Congress 2017
- Oct. 18, 2017
-- Helios Towers Africa (HTA), Eaton Towers and IHS Towers, three of Africa's largest wireless telecom infrastructure operators, have hired investment banking advisers to launch initial public offerings on the London Stock Exchange in 2018, according to global news provider TMT Finance.
HTA has appointed Standard Bank, Credit Suisse and Bank of America Merrill Lynch as joint global coordinators;
IHS has hired Goldman Sachs, Citi and Morgan Stanley; while Eaton has selected JP Morgan and UBS, according to TMT Finance which quotes several un-named sources. All three stock market debuts are expected to be valued at well over US$1bn and considering a H1 2018 flotation.
"The prospect of an IPO in the Africa towers market has been well flagged for some time, but it will be fascinating to see how this plays out with all three major African towercos now essentially in a race to the stock exchange, and all roughly neck and neck in terms of timing," Joseph d'Arrast, EMEA Editor, TMT Finance, said. "The rush appears to be a reflection of record highs in stock market indexes, and a state of maturity in the sector. Sources have played down the first-mover advantage, but there obviously will be some advantage to list first," d'Arrast added.
Terry Rhodes, Co-founder & Director, Eaton Towers, and Chuck Green, Executive Chairman & Co-Founder, Helios Towers Africa, are among the key speakers announced for TMT Finance World Congress 2017 (http://www.tmtfinance.com/world
), the leading gathering of Telecom, Media and Tech executives with investment bankers, investors and advisers, which is taking place in London on November 29.
Eaton Towers is majority owned by Capital Group Private Markets and minority shareholders include Development Partners International, Ethos Private Equity and Standard Charted Private Equity (SCPE). Eaton owns over 5,000 towers in Ghana, Uganda, Kenya, South Africa, Burkina Faso and two other countries.
HTA owns around 6,500 towers in four markets: Tanzania, Democratic Republic of Congo, Congo Brazzaville and Ghana. Investors include: Helios Investment Partners, Quantum Strategic Partners, Albright Capital Management, RIT Capital Partners, the International Finance Corporation and Millicom International Cellular.
IHS has raised a total of US$5.5bn debt and equity to date and now claims to operate 23,300 towers, following a series of acquisitions which included buying towers from MTN Nigeria and EMTS (Etisalat Nigeria) in 2016, and more recently Zain in Kuwait, with an agreement in Saudi Arabia expected to follow. IHS also acquired Helios Towers Nigeria in 2016 and carried out a bond issuance of US$800m. It has presence in Cameroon, Côte d'Ivoire, Nigeria, Rwanda and Zambia. The towerco is backed by investors including AIIM, ECP and Goldman Sachs.
TMT Finance (http://www.tmtfinance.com/
) reports on exclusive deal-related intelligence, data and comprehensive coverage of the global telecom, media and technology sector, including breaking news on IPOs, M&A, debt and equity financing, people moves and strategy.