MTN provides further details of IHS Towers US listing
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Telecommunications infrastructure provider IHS Towers has commenced the marketing of its initial public offering (IPO) of 22 500 000 ordinary shares, MTN advised yesterday.
It said 18 000 000 of the shares were being offered by IHS Towers, and 4 500 000 were being offered by certain selling shareholders, including MTN.
The underwriters of the offering would have a 30-day option to buy up to an additional 3 375 000 ordinary shares, consisting of up to 2 700 000 ordinary shares from IHS Towers and up to 675 000 from the selling shareholders at the initial public offering price, less the underwriting discount.
The IPO price range, as disclosed in the preliminary prospectus, was between $21 and $24 a share. IHS Towers had been approved to list its ordinary shares on the New York Stock Exchange under the ticker symbol “IHS”.
BUSINESS REPORT ONLINE