(Alliance News) - Helios Towers PLC shareholders Millicom Holding BV and International Finance Corp intends to sell around 4% stake in the UK-based telecommunications company through an accelerated bookbuild, joint bookrunner Jefferies International Ltd said on Thursday.
Shares in Helios Towers closed at 184.00 pence each in London, down 10%, valuing the company at GBP1.84 billion. The 4% stake sale potentially equates around GBP74 million in proceeds for the selling shareholders of Helios.
Millicom Holding currently owns a 16% stake in Helios, while International Finance Corp owns 3.5%.
Standard Bank of South Africa Ltd is acting as the second bookrunner for the placing.
Helios Towers will not receive any proceeds from the share placing.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Helios Towers (HTWS)