IHS Holding is once again preparing the biggest African IPO in the United States

(Ecofin Agency) – IHS Holding returns with its IPO project on the American financial market, according to information reported by its reference shareholder Wendel, the French private equity firm. It is the largest IPO of an African company in the United States.

IHS Holding, the mobile telecommunications infrastructure group in Africa, has returned to its proposed listing on one of the American stock exchanges, we learn from a press release published on August 18, 2020 by Wendel. “We are still awaiting details on the dates, the number of shares that will be offered and the price of the offer”, explained the French private equity firm which owns 21.3% of the company’s capital.

We also learn that we are far from the operation itself, because the process will still have to be validated by the competent regulatory bodies in the United States. In February 2020, Bloomberg reported that investment banks Citigroup and JP Morgan Chase had been appointed as arrangers of the deal, which valued IHS Holding at nearly $ 7 billion. If this trading level is reached, it will be the biggest IPO of an African company in a US financial market.

Since 2018, the telecommunications tower manager has been keen to carry out its initial public offering on a major financial market. A first project was suspended because market conditions were not favorable.

The company’s main market is Nigeria, where there was uncertainty about the outcome of the presidential election in which Muhammadu Buhari took part.

It should be remembered that IHS has major stakeholders such as the South African group MTN and the American investment bank Goldman Sachs in its shareholding.

Idriss Linen


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