IHS Holding has filed a registration statement with the US Securities and Exchange Commission relating to a potential IPO on the New York Stock Exchange. In a statement, IHS Towers said the timing, number of shares to be offered and price range of the proposed offering have not yet been determined. The launch of the offering is subject to the necessary regulatory approvals, governance approvals and conducive market conditions.
IHS operates mobile towers infrastructure in Africa, the Middle East and South America. At the end of June, its footprint included over 30,200 towers, with almost 45,500 tenancies. The company generated revenues of USD 764 million in the first half of 2021, up 15 percent from a year earlier, and adjusted EBITDA increased 31 percent over the same period to USD 490 million. The group had USD 2.2 billion in debt at the end of June.
MTN Group holds a 29 percent interest in IHS Towers which it has been looking to monetise since transferring its towers in Nigeria to IHS. Other investors in IHS include sovereign wealth funds of Korea and Singapore, the IFC and Dutch development bank FMO, and several private equity funds.
