Helios Towers raises $160m in placing

Telecommunications company Helios Towers said on Wednesday that it has raised around $160m in a share placing to strengthen its balance sheet and buy tower assets in new and existing markets.

The group, which announced the placing late on Tuesday, said 46.75m new ordinary shares were placed at 163p each. This is a 5.3% discount to the closing share price of 172.20p a day earlier. A further 1.25m shares were sold to institutional investors, raising $110m.

Helios said: "The net proceeds of the capital raise will support Helios Towers' ability to negotiate with potential counterparties from a position of financial strength."

At 1000 BST, the shares were down 4.2% at 165.25p.