Helios Towers enters a new phase post-IPO
Why has Helios Towers gone public? And what does it mean for the future of African telecom towers?
On Tuesday 15th October Helios Towers went public. Helios Towers is active in Ghana, Congo Brazzaville, the DRC, Tanzania and South Africa. After reviewing but not pursuing an IPO in 2018, Helios Towers took the plunge last week. The towerco went public with a market capitalisation of US$1.45bn against a Q2 2019 adjusted EBITDA of US$201mn. TowerXchange discuss the transaction with CEO Kash Pandya as the company and African industry enter a new phase.
TowerXchange: Why has Helios Towers taken the step now to IPO? What made the time right?
Kash Pandya, CEO, Helios Towers:
We have been ready to IPO for some time, but the time was right because we wanted access to further investment equity, and have now raised well over US$100mn through the IPO ready to invest in new acquisitions.