MTN Affiliate IHS Towers to Pursue New York Listing

MTN Group affiliate, emerging markets telecommunications tower operator IHS Towers, is pursuing a possible listing on the New York Stock Exchange.

MTN, which owns 29% of IHS, revealed the plans in a stock exchange filing in Johannesburg on Friday.
IHS has filed a “Form F-1 registration statement” with the US Securities and Exchange Commission related to the possible initial public offering, it said.

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“The timing, number of shares to be offered and price range of the proposed offering have not yet been determined. The launch of the offering is subject to the necessary regulatory approvals, governance approvals and conducive market conditions,” MTN said.

IHS has about 30 000 towers in its portfolio. It operates in nine countries, most of them in Africa. It also has operations in the Middle East and Latin America