African mobile networks operator, Helios Towers plans to list on the London Stock Exchange in early April in the largest listing in London this year so far.
Established in 2009, Helios Towers owns and operates 6,519 telecom towers in Tanzania, the Democratic Republic of Congo and Ghana and will be valued at an estimated of £2bln.
A raft of major telcos and individuals currently back the infrastructure outfit, including Millicom, Bharti Airtel and hedge funds Soros Fund Management and Albright Capital Management.
Revenues in 2017 were US$345mln with an adjusted profit of US$146mln.
Kash Pandya, chief executive, said: “A premium listing on the London Stock Exchange and a secondary listing on the Main Board of the Johannesburg Stock Exchange are important.”
Helios is the third African mobile towers business scheduled to float in 2018, with IHS Towers and Eaton Towers also preparing for listings to fund infrastructure investment as economic growth in Africa drives increased use of smartphones and demand for data.