IHS Holding eyes close to $8 bln valuation in U.S. IPO

33

Oct 4 (Reuters) – IHS Holding Ltd, an operator of telecoms infrastructure akin to cell phone towers, is trying to elevate as much as $540 million in a U.S. preliminary public providing that might worth it at about $8 billion, a regulatory submitting confirmed on Monday.

The London-based firm plans to promote 18 million odd shares within the IPO, priced between $21 and $24 per share, whereas its current traders are providing 4.5 million shares.

IHS Holding – whose infrastructure helps facilitate cell communication protection – operated greater than 30,000 towers throughout Africa, Middle East and Latin America as of June 30, the submitting confirmed.

It posted a revenue of $77 million for the six months ended June 30, in contrast with a lack of $353 million a 12 months earlier, in accordance with the submitting. Its income grew 15% throughout the identical interval.

Goldman Sachs, J.P. Morgan and Citigroup are the lead underwriters for IHS IPO. It will checklist on the New York Stock Exchange below the image “IHS”.

(This story corrects paragraph two to say IHS is London-based)

Reporting by Sohini Podder in Bengaluru; modifying by Uttaresh.V and Anil D’Silva