Egypt's EFG Hermes completes advisory on $368mln IPO of Helios Towers

Cairo –  EFG Hermes announced the conclusion of advisory to Helios Towers on its GBP 288 million initial public offering (IPO) on the London Stock Exchange (LSE).

EFG Hermes acted as joint bookrunner on the IPO with the stock of the African mobile networks operator starting to trade under the ticker symbol “HTWS”, according to a statement on Tuesday.

The leading financial services firm previously advised on the listings of ADES International plc, Integrated Diagnostics Holdings, Finablr, and ASA International on the LSE.

EFG Hermes’ fifth IPO on the LSE witnessed 250 million shares, which make up 25% of the company’s issued share capital, to institutional investors at an offer price of GBP 1.15 per share.

Helios Towers’ market capitalisation at the beginning of Tuesday’s trading session reached GBP 1.150 billion.

“Since the launch of the Group’s Frontier platform in 2017, [EFG Hermes has] expanded [its] direct presence to cover key FEMs across four continents,” CEO of EFG Hermes Frontier, Ali Khalpey, said.

This is EFG Hermes’ eighth equity capital market (ECM) transaction this year.

It is noteworthy that during the first half of 2019, EFG Hermes logged a net profit of EGP 686.56 million, compared to EGP 477.17 million in H1-18.