Skip to content
Search

Latest Stories

Investors expect windfall from Helios Towers’ London listing

BACKERS of Helios Towers are in line for a windfall as the company is on its way for a £1.5 billion ($2bn) London listing.

Private equity firm Helios Investment Partners, Soros Fund Management, and telecommunications groups Millicom and Bharti Airtel will reduce their stakes in the business.


Helios, one of Africa’s largest mobile network operator, is moving ahead with its plan to list on the London Stock Exchange (LSE).

Founded in 2009, Helios Towers has about 7,000 towers in five countries, including the Democratic Republic of Congo (DRC) and Tanzania.

Its customers include mobile operators Airtel, MTN, Orange, Tigo, and Vodacom.

Helios will raise approximately £100m ($125m) by selling shares to institutional investors, according to an announcement made on Thursday (12).

The new investor can purchase 25 per cent of the business. The company will use the proceeds to expand its business abroad.

Its move will provide a fillip to the stock exchange, which has suffered a slump in listings this year.

The latest listing of the African business is expected to be a great bonus for the LSE after it witnessed a fall in listings this year amid Brexit uncertainties and the US-China trade war.

The company had dropped its previous plan of a listing in March 2018 amid concern about political risk in the DRC and Tanzania, according to media reports.

Revenues at Helios Towers rose from approximately £276m ($345m) to £285m ($356m) last year, while adjusted underlying profits climbed from £117m ($146m) to £142m ($178m).

It has net debt of £525.5m ($657m).

The company’s first-half revenue increased seven per cent year-on-year to approximately £153 million ($191m), for the six months to June.

Helios operates some 7,000 telecommunications towers in countries such as South Africa, the DRC, and Ghana.

It owns and operates more sites than any other operator each in Tanzania, the DRC, and Congo Brazzaville.

The firm is also a leading operator in Ghana with a strong urban presence and has recently announced entry into South Africa.

More For You

Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

Jaguar’s bold gamble: Can it woo young, wealthy drivers with a £123k EV?

JAGUAR’S ambition to seduce younger, richer drivers was on full display in Paris with a presentation of its newest prototype, the Type 00, which promises all-electric luxury... at a steep price.

The low-slung, muscular-looking concept car presented to European reporters last Friday (21) prefigures a production model expected mid-2026 at a base cost of €150,000 (£123,472.8).

Keep ReadingShow less
Starmer-Trump-Getty

Trump has suggested the possibility of a 'great' trade deal that could help the UK mitigate the impact of tariffs he has pledged to introduce. (Photo: Getty Images)

Starmer, Trump talk trade deal progress in 'productive' discussion

KEIR STARMER and Donald Trump spoke on Sunday about ongoing UK-US trade negotiations, with Downing Street describing the talks as "productive."

Since leaving the European Union, the UK has been working to secure a trade agreement with the United States. Successive British governments have pursued a deal, but it has remained elusive.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)

India-US trade talks end with no sign of tariff relief

INDIA and the United States have agreed to move forward on finalising a part of their bilateral trade deal this year, but there was no indication of any tariff relief for India.

Trade discussions took place in New Delhi ahead of the implementation of US president Donald Trump's new trade tariff regime, which includes import levies on India, set to take effect from 2 April.

Keep ReadingShow less
Tesco Clubcard Changes: Update Your App Before the Deadline

The digital Clubcard offers convenience and flexibility

Getty

Tesco Clubcard changes: Customers urged to update app before Monday deadline

Tesco has issued an urgent call for action to millions of its Clubcard users, advising them to update their Tesco Shopping & Clubcard app before Monday, 31 March 2025. The supermarket giant is rolling out an important update to improve data protection and online security, and failure to update the app by the deadline will leave customers unable to access their digital Clubcard benefits.

Update to ensure enhanced security

The upcoming changes are being implemented to enhance the security of customer data and improve overall protection. Tesco has highlighted the importance of this upgrade, as it seeks to safeguard customer information and keep their online shopping experiences secure.

Keep ReadingShow less
OpenAI Restricts ChatGPT’s Image Feature After Viral Ghibli Trend

Altman addressed the impact of the popular Ghibli-style image trend on OpenAI’s resources

Getty

OpenAI limits ChatGPT’s image generation feature amid viral Ghibli image trend

OpenAI CEO Sam Altman has announced temporary limitations on the company’s image generation feature in response to overwhelming demand driven by a viral trend. On Thursday, Altman addressed the impact of the popular Ghibli-style image trend on OpenAI’s resources, particularly its reliance on GPUs (graphics processing units). Altman revealed that the surge in demand for ChatGPT’s image generation tool has led to significant strain on the company’s infrastructure, prompting the introduction of temporary speed limits for users.

In a post on X (formerly Twitter), Altman shared the company’s response to the unexpected demand, stating, “It’s super fun seeing people love images in ChatGPT, but our GPUs are melting. We are going to temporarily introduce some rate limits while we work on making it more efficient. Hopefully won’t be long! ChatGPT free tier will get 3 generations per day soon.”

Keep ReadingShow less