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What we learned about HTN Towers prior to their cancelled IPO on the LSE


First towerco established in Africa, then Helios Towers Nigeria, steps back from IPO citing the interest of a strategic investor, amid turbulence of MTN fine

By Kieron Osmotherly, Founder & CEO, TowerXchange.

On October 23 2015, HTN Towers announced their intention to IPO 50-60% equity on the London Stock Exchange. On November 6 HTN Towers announced the IPO process would be discontinued due to “expressions of interest from potential buyers to acquire the company.” The following commentary is TowerXchange’s analysis of the HTN Towers business from a tower industry KPIs perspective – we are not financial analysts, and readers should make their own evaluation of the financial performance of the company.

The tale of HTN Towers is a twin narrative. One story is of Africa’s oldest growth organic tower build in the continent’s largest and most vibrant telecom and tower market – Nigeria.


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