September 12, 2019 / 6:11 AM / 10 days ago

BRIEF-Helios Towers eyes potential London Stock Exchange listing

Sept 12 (Reuters) -

* HELIOS TOWERS, LTD. ANNOUNCEMENT OF INTENTION TO PUBLISH A REGISTRATION DOCUMENT AND POTENTIAL INTENTION TO FLOAT ON LONDON STOCK EXCHANGE

* Leading sub-SAHARAN TOWER COMPANY OPERATES ACROSS FIVE COUNTRIES REPRESENTING SOME OF HIGHEST GROWTH ECONOMIES IN SUB-SAHARAN AFRICA COMPRISING TANZANIA, DEMOCRATIC REPUBLIC OF CONGO, REPUBLIC OF CONGO,GHANA AND, MOST RECENTLY, SOUTH AFRICA

* IN ORDER TO EFFECT IPO, HELIOS TOWERS PLC WOULD BECOME PARENT OF GROUP.

* SHOULD COMPANY PROCEED WITH IPO, IT IS EXPECTED TO HAVE FOLLOWING FEATURES: . ADMISSION TO PREMIUM SEGMENT OF OFFICIAL LIST OF FCA AND TO TRADING ON MAIN MARKET OF LSE.

* ALLOTMENT AND ISSUANCE OF NEW SHARES, FROM WHICH COMPANY EXPECTS TO RAISE GROSS PROCEEDS OF US$125 MILLION, AS WELL AS SALE OF EXISTING SHARES BY EXISTING SHAREHOLDERS INCLUDING, INTER ALIA, FUNDS MANAGED BY NEWLIGHT PARTNERS LP, HELIOS INVESTMENT PARTNERS, ALBRIGHT CAPITAL MANAGEMENT LLC, RIT CAPITAL PARTNERS PLC, INTERNATIONAL FINANCE CORPORATION, IFC AFRICAN, LATIN AMERICAN AND CARIBBEAN FUND, L.P., MILLICOM HOLDING B.V. AND BHARTI AIRTEL.

* PROCEEDS FROM ISSUANCE OF NEW SHARES WILL PROVIDE GROUP WITH ENHANCED FLEXIBILITY TO TAKE ADVANTAGE OF FUTURE OPPORTUNITIES IN LINE WITH COMPANY’S GROWTH STRATEGY

* COMPANY IS TARGETING A FREE FLOAT FOR HELIOS TOWERS PLC OF AT LEAST 25 PER CENT. AND EXPECTS THAT HELIOS TOWERS PLC WOULD BE ELIGIBLE FOR INCLUSION IN FTSE UK INDICES. Source text for Eikon: Further company coverage: [ ] (Reporting By Sinead Cruise)

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