African telecoms tower operator plans to raise $2.75 billion on London and Johannesburg Bourse

African mobile towers operator, Helios Tower today announced that it is ready to list $2.75 billion in the London and Johannesburg Stock Exchange. This makes Helios the third African tower after IHS Towers and Eaton Towers charged to list in the London bourse this year.

“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.

According to Financial Times, African tower companies hope to appeal to investors by pointing to long-term contracts in fast-growing markets where data revenue is booming as lower-cost smartphones are launched across the continent.

Helios in 2017 filed for a secondary listing to raise $600 million through a bond issue on the Johannesburg Stock Exchange.

What you need to know about Helios

Helios manages about $3 billion in sovereign wealth funds, corporate and public pension funds, endowments and foundations, funds of funds, family offices, and development finance institutions across the globe.

The company was founded in 2009 and it is owned by telecoms companies Millicom and Bharti Airtel and hedge funds including Soros Fund Management and Rothschild Investment Trust Capital Partners.

It is chaired by the former Cobham chief executive, Allan Cook, and WS Atkins as chairman. Kash Pandya was appointed in 2015 to become the chief executive of the company.

Currently, Helios Towers owns about 6,600 telecoms towers in Ghana, Tanzania, Congo Brazzaville and the Democratic Republic of Congo.

Helios had a revenue of $345 million and a debt of $595.2 million in 2017.