• Contact
Saturday, September 23, 2023
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    Nigeria finance minister blames Naira’s dive on overdue payments

    Nigeria finance minister blames Naira’s dive on overdue payments

    Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

    Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

    Timeline: Nigeria's electricity grid collapsed 46 times from 2017 to 2023

    Timeline: Nigeria’s electricity grid collapsed 46 times from 2017 to 2023

    Trending Tags

  • Business
    Virgin Active to expand office space and meeting rooms in gyms

    Virgin Active to expand office space and meeting rooms in gyms

    Dangote, Bua show grit amid global sugar crises

    Dangote, Bua show grit amid global sugar crises

    800 million+ carats of diamonds in Angola reserves

    800 million+ carats of diamonds in Angola reserves

    Hindenburg 2.0? George Soros-backed group plans 'expose' on Indian firms: Report

    Hindenburg 2.0? George Soros-backed group plans ‘expose’ on Indian firms: Report

    Viktor Bout still has his eye on Africa

    Viktor Bout still has his eye on Africa

    SADC countries may benefit from ANGOSAT 2

    SADC countries may benefit from ANGOSAT 2

    US puts $235m in startup making low-emission jets

    US puts $235m in startup making low-emission jets

    Amazon opens its first African AWS Skills Center in South Africa

    Amazon opens its first African AWS Skills Center in South Africa

    Kenya: BasiGo launches its new “E9 Kubwa” electric bus model

    Kenya: BasiGo launches its new “E9 Kubwa” electric bus model

  • Finance
    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    Nigeria finance minister blames Naira’s dive on overdue payments

    Nigeria finance minister blames Naira’s dive on overdue payments

    Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

    Angola Oil & Gas (AOG) 2023 Explores Mobilizing Capital for Angola’s Infrastructure

    Timeline: Nigeria's electricity grid collapsed 46 times from 2017 to 2023

    Timeline: Nigeria’s electricity grid collapsed 46 times from 2017 to 2023

    Trending Tags

  • Business
    Virgin Active to expand office space and meeting rooms in gyms

    Virgin Active to expand office space and meeting rooms in gyms

    Dangote, Bua show grit amid global sugar crises

    Dangote, Bua show grit amid global sugar crises

    800 million+ carats of diamonds in Angola reserves

    800 million+ carats of diamonds in Angola reserves

    Hindenburg 2.0? George Soros-backed group plans 'expose' on Indian firms: Report

    Hindenburg 2.0? George Soros-backed group plans ‘expose’ on Indian firms: Report

    Viktor Bout still has his eye on Africa

    Viktor Bout still has his eye on Africa

    SADC countries may benefit from ANGOSAT 2

    SADC countries may benefit from ANGOSAT 2

    US puts $235m in startup making low-emission jets

    US puts $235m in startup making low-emission jets

    Amazon opens its first African AWS Skills Center in South Africa

    Amazon opens its first African AWS Skills Center in South Africa

    Kenya: BasiGo launches its new “E9 Kubwa” electric bus model

    Kenya: BasiGo launches its new “E9 Kubwa” electric bus model

  • Finance
    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Business

IHS gets $7bn valuation in New York

IHS Holding Ltd, operator of telecoms infrastructure across the continent such as mobile phone towers, was looking to raise up to $540 million in a U.S. listing, but fell following their debut.

TAB by TAB
25/10/2021
in Business
0
IHS gets $7bn valuation in New York

IHS gets $7bn valuation in New York

0
SHARES
26
VIEWS
Share on FacebookShare on Twitter

IHS gets $7bn valuation in New York

Africa’s biggest independent operator of mobile phone towers, IHS Towers, has launched its delayed initial public offering (IPO) on the New York Stock Exchange, achieving a valuation of nearly $7bn. The offer on 4 October was for 22.5m shares at $21/share, raising $378m for existing shareholders and for growth.

IHS gets $7bn valuation in New York

Related posts

Virgin Active to expand office space and meeting rooms in gyms

Virgin Active to expand office space and meeting rooms in gyms

12/09/2023
3
Dangote, Bua show grit amid global sugar crises

Dangote, Bua show grit amid global sugar crises

12/09/2023
4

It is the biggest African market capitalisation in the US, although the shares retreated on the IPO day and thereafter.

IHS operates over 30,000 towers in Nigeria, Cameroon, Côte d’Ivoire, Zambia and Rwanda, as well as in other markets in South America and the Middle East.

It was first launched in Nigeria in 2001, where it is the number one operator. Nigeria remains the key source of its earnings.

This year it has announced deals in Brazil and Colombia.

Investment continues to pour into telecoms infrastructure in Africa, after decades when the sector has been giving outsize returns to long-term investors, both private equity and through listed markets. Data centres and subsea cables are also attracting huge flows of investment.

The offering of shares includes 4.5m sold by existing shareholders, including South Africa’s MTN, which valued its stake at R30bn ($2bn) at the end of June.

Other major shareholders are Goldman Sachs and the French listed long-term private equity investor Wendel Group, which had a 21.3% stake.

The listing was first mooted in a press release in August 2020 and reported in this column, but it was delayed because of volatile markets due to the pandemic.

Joint lead book-running managers are Goldman Sachs, Citigroup Global Markets and JP Morgan Securities. The underwriters have an option to buy up to another 3.375m shares at the IPO price.

In the results for the half year to June 2021, IHS reported adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $490m and profit of $77m.

Globally, IHS Towers is among the top four independent operators and developers of telecom towers. Companies in this business have achieved higher valuations in New York than in London.

African Business

Previous Post

Credit Suisse fined $475m over ‘tuna bonds’ scandal

Next Post

What happens when the world’s key metal exchange has no metal?

Next Post
What happens when the world’s key metal exchange has no metal?

What happens when the world’s key metal exchange has no metal?

RECOMMENDED NEWS

Global tech billionaires eye Zambia’s electric vehicle battery mines

Global tech billionaires eye Zambia’s electric vehicle battery mines

8 months ago
1
Europe huddles down for a winter without Russian gas

Europe huddles down for a winter without Russian gas

1 year ago
2
Yearly funding for Kenyan start-ups to hit Sh100 billion by 2025

Yearly funding for Kenyan start-ups to hit Sh100 billion by 2025

1 year ago
4
Vinyl records outsell CDs for first time in decades

Vinyl records outsell CDs for first time in decades

6 months ago
1

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business - News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • Kenya seeks partnership with Apple
  • List of African countries and how much of their salaries they spend on iPhones
  • Nigeria finance minister blames Naira’s dive on overdue payments

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In