Helios Towers slumps after Network i2i sells entire stake
Helios Towers was under the cosh on Thursday after Network i2i, a wholly-owned subsidiary of Bharti Airtel, sold 23.1m shares - its entire stake - in the telecom tower infrastructure company.
Fixed Line Telecommunications
1,977.78
12:54 24/12/24
1.06%
20.65
FTSE 250
20,571.51
13:00 24/12/24
n/a
n/a
FTSE 350
4,491.87
12:54 24/12/24
n/a
n/a
FTSE All-Share
4,449.61
13:14 24/12/24
n/a
n/a
HELIOS TOWERS
90.80p
12:40 24/12/24
0.33%
0.30p
The shares, which represent around 2.3% of Helios’ issued ordinary share capital, were sold in a placing at 160p each, raising gross proceeds of £36.9m.
Citi acted as joint bookrunner in connection with the offering, along with Bank of America Securities.
Helios will not receive any proceeds from the placing.
At 0810 BST, the shares were down 6.1% at 169.00p.