Tower Company IHS Holding Limited announced that it is exploring a potential registered IPO in the U.S. The deal will kick off after review by the U.S. Securities and Exchange Commission. In February, IHS Holdings hired JPMorgan and Citigroup to oversee the transaction. Bloomberg says that the deal could be the biggest listing of an African company in the U.S., which could value the operator at approximately $ 7 billion.
“Any proposed offering would commence after the completion of a customary U.S. Securities and Exchange Commission review process of a registration statement relating to the proposed offering and subject to market and other conditions,” reads a company Press Release.
The company is yet to determine the number of shares and the price range.
In 2018, IHS deferred plan to list on in New York, avoiding possible uncertainties of the Nigeria election.
IHS owns over 24000 towers in Africa, driven by the growing demand for mobile connection in the continent. Its is also the largest telecom infrastructure provider in Africa, the Middle East and Europe by tower count.
Owners of IHS include the MTN Group, French Private Equity Firm Wendel SE and Goldman Sachs Group.
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