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IHS Holding eyes near US$8 billion valuation in US IPO

IHS Holding Ltd, an operator of telecoms infrastructure such as mobile phone towers, is looking to raise up to US$540 million in a U.S. initial public offering that could value it at about US$8 billion, a regulatory filing showed on Monday.

The London-based company plans to sell 18 million ordinary shares in the IPO, priced between US$21 and US$24 per share, while its existing investors are offering 4.5 million shares.

IHS Holding - whose infrastructure helps facilitate mobile communication coverage - operated more than 30,000 towers across Africa, Middle East and Latin America as of June 30, the filing showed.

It posted a profit of US$77 million for the six months ended June 30, compared with a loss of US$353 million a year earlier, according to the filing. Its revenue grew 15per cent during the same period.

Goldman Sachs, J.P. Morgan and Citigroup are the lead underwriters for IHS IPO. It will list on the New York Stock Exchange under the symbol "IHS".

(This story corrects paragraph two to say IHS is London-based)

(Reporting by Sohini Podder in Bengaluru; editing by Uttaresh.V and Anil D'Silva)

Source: Reuters

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