Helios Towers has shelved its initial public offering (IPO) plans, just days after the firm said preparations were well advanced. The mobile infrastructure group, whose tenants include MTN Ghana and Vodacom Tanzania, was planning an IPO in London and on the JSE for early April. While there was "considerable" investor interest, Helios said on Thursday that shareholders had decided not to proceed with the IPO. Its shareholders include Millicom, Bharti Airtel and hedge funds Albright Capital Management and Soros Fund Management, among others. Mergermarket reported on Wednesday that Helios and Eaton Towers – another IPO candidate – may have been eyeing a merger. Mergence Investment Managers portfolio manager Peter Takaendesa said earlier in the week demand for Helios shares could have been strong. "We expect strong demand for the shares if listed at appropriate valuation measures that compare well with other listed emerging market peers and are reflective of current global equity market...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.