IHS Holding said it has commenced its initial public offering (IPO) of 22.50 million ordinary shares, 18.0 million of which are being offered by IHS Towers and 4.50 million by certain other shareholders. The underwriters have a 30-day option to purchase up to 2.70 million more shares from IHS Towers and 675,000 ordinary shares from the selling shareholders at the IPO price, currently estimated at between USD 21.00 and USD 24.00 per share.
IHS Towers has been approved to list its ordinary shares on the New York Stock Exchange. The offering will be made only by means of a prospectus and the preliminary one is available via joint lead book-running managers Goldman Sachs, JP Morgan Securities and Citigroup Global Markets.
Other joint book-running managers are RBC Capital Markets, Barclays Capital and Absa Bank. Co-managers are Cowen and Company, Investec Bank, Renaissance Securities (Cyprus), FirstRand Bank Limited (London) via Rand Merchant Bank, Academy Securities, Loop Capital Markets, Samuel A Ramirez & Co, Siebert Williams Shank and Tigress Financial Partners.
A registration statement on Form F-1 relating to these securities has been filed with the US Securities and Exchange Commission but has not yet become effective.
