(Alliance News) - Helios Towers PLC shareholders Millicom Holding BV and International Finance Corp have netted GBP60 million from the sale of a 4% stake in the UK-based telecommunications infrastructure company, joint bookrunner Jefferies International Ltd said on Friday.
The shareholders sold 40 million Helios shares at 150 pence per share. The share sale was initially announced late Thursday.
The stock was down 13% at 159.80 pence each in London early Friday, valuing the company at GBP1.60 billion.
Following the stake sale, Millicom has a 13% stake in Helios, while International Finance Corp owns 2.8%.
Standard Bank of South Africa Ltd acted as the second bookrunner for the placing.
Helios Towers will not receive any proceeds, as the sale was of existing shares.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Helios Towers (HTWS)