October 19, 2021
Markets

Africa’s biggest mobile tower operator plans New York IPO

Telecoms updates

IHS Towers, the biggest operator of mobile phone towers in Africa, has filed for a New York stock exchange listing.

The company filed papers for a potential listing with the US Securities and Exchange Commission on Thursday according to South Africa’s MTN, which owns a 29 per cent stake in IHS and is Africa’s largest mobile phone operator by subscribers.

“The timing, number of shares to be offered and price range of the proposed offering have not yet been determined,” MTN said. 

IHS, which operates more than 30,000 towers in five African countries and other markets in South America and the Middle East, declined to comment.

Goldman Sachs and Wendel, the French private equity investor, also own stakes in the company.

A listing of IHS, the world’s fourth biggest independent…

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