Industry, Logistics & Shipping

EFG Hermes key advisor for $364m Helios Towers' London IPO

EFG Hermes, a leading financial services corporation in frontier emerging markets (FEM), said it has successfully concluded advisory to Helios Towers, a leading telecom tower infrastructure company in Sub-Saharan Africa, on its £288 million ($364 million) initial public offering on the London Stock Exchange.

The deal represents yet another successful equity capital market transaction for the Group’s frontier platform, further solidifying its leadership across FEMs.

Founded in 2009, Helios Towers owns and operates telecommunications towers and passive infrastructure across Tanzania, Ghana, the Democratic Republic of Congo (DRC), the Republic of Congo, and South Africa.

The company operates more than 6,500 towers for the major African mobile network operators (MNOs).

EFG Hermes acted as joint bookrunner, with Helios Towers beginning to trade under the stock symbol HTWS.

This is EFG Hermes’ fifth IPO on the London Stock Exchange after the successful listings of ADES International, Integrated Diagnostics Holdings, Finablr and ASA International, said the statement from the top financial services group.

The IPO saw Helios Towers offer 250 million shares (representing 25% of the issued share capital) to institutional investors at an offer price of £1.15; accordingly, the company’s total market capitalisation at admission today stood at £1.15 billion, it stated.

EFG Hermes Frontier CEO Ali Khalpey said: "With the successful conclusion of Helios Towers’ IPO, we have once again demonstrated our ability to bookbuild and transact in frontier emerging markets with an unrivalled global distribution platform supported by world-class research, brokerage, and advisory services."

"Since the launch of the Group’s Frontier platform in 2017, we have expanded our direct presence to cover key Fems across four continents," stated Khalpey.

Today, the group has execution capabilities across more than 75 FEMs, representing all of the markets under the MSCI Fem index, with a direct presence in 13 jurisdictions serving global institutional investors, regional high-net-worth individuals, and retail investors, he added.-TradeArabia News Service