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Helios Towers shares drop as shareholder sells 52mln shares

The company won't receive any proceeds from the placing.

Helios Towers PLC - Helios Towers shares drop as shareholder sells 52mln shares

Helios Towers PLC (LON:HTWS) shares were on the backfoot on Friday as a shareholder Millicom sold 52mln shares via a secondary placing run by Citigroup and JP Morgan Cazenove.

The placing shares were sold at 155p per share. The shares represent around 5.2% of the company.

Millicom retains 76.5mln Helios Towers shares or 7.6% of the company and those shares are now subject to a 90-day lock-up.

Helios Towers will not receive any proceeds from the placing.

In London, Helios shares were down 21p or 11.9% changing hands at 154.4p.

Quick facts: Helios Towers PLC

Price: 148.2 GBX

LSE:HTWS
Market: LSE
Market Cap: £1.48 billion
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