(Alliance News) - Citigroup Global Markets Ltd on Friday said Millicom Holding BV, a subsidiary of Millicom International Cellular SA has sold a 5.2% stake in Helios Towers PLC.
On Thursday, Citigroup said Millicom intended to sell around 48 million shares in the telecommunications infrastructure company through an accelerated bookbuild process in which Citigroup and JP Morgan Cazenove would act as joint global coordinators and bookrunners.
On Friday, it stated Millicom sold 52 million Helios Towers shares at 155 pence each for a total of GBP80.6 million.
Shares in Helios were trading 12% lower at 154.40p each on Friday morning in London.
Following completion of the placing, Millicom will hold around 76.5 million Helios shares, representing a 7.6% stake.
Helios Towers will not receive any proceeds from the placing which is expected to settle on Tuesday.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Helios Towers (HTWS)