logo
Plus   Neg
Share
Email

HTN Towers Plc Halts IPO Plans

HTN Towers plc, an independent telecoms tower operator in Nigeria, announced that it has postponed its plans to proceed with an initial public offering, as it received expressions of interest from potential buyers to acquire the Company.

Pierre Danon, Chairman of the Company, said "The shareholders of the Company have received expressions of interest from potential buyers to acquire the Company. Consequently, the board of the directors of the Company has decided not to proceed with the IPO at this time."

On 23 October 2015, HTN Towers plc said it had planned to proceed with an initial public offering. The Company had intended to target a total free float of 50-60%.

Final pricing and the commencement of conditional and unconditional dealings in the Ordinary Shares on the London Stock Exchange was expected to be in early November 2015.

The company intended to raise proceeds to fund capital expenditures related to the Group's growth strategy of approximately US$125 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Despite opposition from the pharmaceutical industry, President Donald Trump's administration has proposed a new rule requiring companies to include the prices for prescription drug and biological products in their television advertisements. Ride-hailing company Lyft introduced a new monthly subscription plan that offers free or discounted rides for a price of $299 every 30 days. Passengers can subscribe to the monthly plan, starting today. It will be available to everyone in the U.S. by the end of the week. With an All-Access Plan, riders can get 30 rides each month worth up to $15 each. Amazon.com Inc. will continue to work with the U.S. Department of Defense or DoD despite criticism from its employees and privacy activists, the company's Founder and Chief Executive Jeff Bezos said Monday. "If big tech companies are going to turn their back on the DoD, this country is going to be in trouble," Bezos said during the Wired25 conference in San Francisco.
Follow RTT