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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wendel SA | EU:MF | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.15 | 1.23% | 94.65 | 94.30 | 95.00 | 95.25 | 94.20 | 94.40 | 31,922 | 16:40:00 |
By Colin Kellaher
IHS Holding Ltd. on Monday said it plans to sell 18 million shares at between $21 and $24 apiece in an initial public offering that could give the Wireless tower operator a market capitalization of nearly $8 billion.
At the $22.50 midpoint of the expected price range, IHS said it expects net proceeds of about $378.8 million, or around $436.5 million if the underwriters exercise an option to buy an additional 2.7 million shares.
IHS said current shareholders, including South Africa-based telecommunications group MTN Group Ltd. and private-equity firm Emerging Capital Partners, plan to sell a total of 4.5 million shares in the offering, bringing the size of the IPO to 22.5 million shares.
MTN would still be IHS's largest shareholder after the IPO, with a stake topping 25%, while French investment company Wendel SE, which isn't selling any shares, would hold nearly 23%, according to a filing with U.S. Securities and Exchange Commission.
In the filing, IHS said it would have about 330.8 million shares outstanding after the IPO, assuming exercise of the overallotment option, for a market capitalization of around $7.94 billion at the $24-a-share high end of the expected price range.
IHS said it has been approved to list its shares on the New York Stock Exchange under the symbol IHS.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 04, 2021 08:05 ET (12:05 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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