Helios Towers raises $160m in placing
HELIOS TOWERS
90.50p
16:40 23/12/24
-1.74%
-1.60p
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.
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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.