Bulletin: IHS Holding Ltd.'s Planned IPO Should Support Growth And Diversification Strategy

JOHANNESBURG (S&P Global Ratings) Oct. 14, 2021--S&P Global Ratings today said that mobile tower company IHS Holding Ltd.'s (B/Stable/--) plans to complete an IPO on the New York Stock Exchange today will give a boost to the company's growth and diversification strategy. We understand that IHS intends to issue 22.5 million shares, including 80% in primary shares and 20% in secondary shares being offered by some existing shareholders. IHS' two largest shareholders are pan-African telecommunications group MTN Group (with a 27.5% holding) and investment holding company Wendel (24.3%). Based on their respective company announcements, we understand that MTN will be offering around 1.2 million shares (worth about $26 million) in the IPO, while Wendel will not offer any at this

...October 14, 2021 JOHANNESBURG (S&P Global Ratings) Oct. 14, 2021--S&P Global Ratings today said that mobile tower company IHS Holding Ltd.'s (B/Stable/--) plans to complete an IPO on the New York Stock Exchange today will give a boost to the company's growth and diversification strategy. We understand that IHS intends to issue 22.5 million shares, including 80% in primary shares and 20% in secondary shares being offered by some existing shareholders. IHS' two largest shareholders are pan-African telecommunications group MTN Group (with a 27.5% holding) and investment holding company Wendel (24.3%). Based on their respective company announcements, we understand that MTN will be offering around 1.2 million shares (worth about $26 million) in the IPO, while Wendel will not offer any at this time. The IPO underwriters have the option to purchase 3.4 million shares, including 2.7 million shares from IHS. At the public offering price of US$21.00 per share announced today, the total IPO proceeds...

Bulletin