Global telecommunications infrastructure company, IHS Holding Limited (IHS Towers) has announced the pricing of its initial public offering (IPO) of 18,000,000 ordinary shares being offered by IHS Towers, at a public offering price of $21.00 per share.

According to a statement released by the firm, the underwriters of the offering will also have a 30-day option to purchase up to an additional 2,700,000 ordinary shares from IHS Towers at the initial public offering price, less the underwriting discount.

The ordinary shares are expected to begin trading on the New York Stock Exchange on October 14, 2021 under the ticker symbol “IHS.”

IHS Towers added, “The closing of the offering is expected to occur on October 18, 2021, subject to satisfaction of customary closing conditions.”

South Africa-based mobile operator MTN, which, according to an ITWeb report, held 29% of IHS Towers’ common equity as at 30 June 2021, has notified shareholders of the development, with reference to the official announcement.

The operator added that after the IPO, it would hold 85 176 719 ordinary shares from IHS Towers.

On 4 October IHS Towers announced that it had commenced an IPO of 22.5 million ordinary shares.

As reported by ITWeb, of these shares, 18 million are being offered by IHS Towers and 4.5 million are being offered by certain selling shareholders.

A statement by IHS Towers detailed that the underwriters of the offering will also have a 30-day option to purchase up to an additional 2.7 million ordinary shares from IHS Towers and 675 000 ordinary shares from the selling shareholders at the initial public offering price.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are acting as joint lead book-running managers for the offering. RBC Capital Markets, LLC, Barclays Capital Inc. and Absa Bank Limited are acting as joint book-running managers for the offering.