IPOs on the horizon for Africa’s towercos
What timelines and valuations could be expected?
Africa’s three largest privately owned towercos, Eaton Towers, Helios Towers and IHS Towers, have commenced proceedings for a public listing, with each targeting the first half of 2018 for their IPOs. With tower stocks on the rise, TowerXchange examine the details starting to emerge around their IPO processes and examine potential listing destinations, time frames and valuations that could be achieved.
Who are the tower companies in question?
Eaton Towers, Helios Towers and IHS Towers represent three of sub-Saharan Africa’s four largest towercos. With portfolios ranging from 6,000 to 23,282 towers (figure one), the three towercos collectively own 29% of sub-Saharan Africa’s 124,428 towers.