Shareholders of African towerco IHS Nigeria have given the nod for it to delist from the Nigerian Stock Exchange.
Following a court-ordered meeting on 22 January, the company received approval to implement a scheme which pays back stockholders N4.35…
Shareholders of African towerco IHS Nigeria have given the nod for it to delist from the Nigerian Stock Exchange.
Following a court-ordered meeting on 22 January, the company received approval to implement a scheme which pays back stockholders N4.35 (US$0.03) per share, or US$118m in total.
A spokesperson said the move brings the Nigerian operation in line with the group’s structural plans. He added that shareholders have the option of either selling their shares or buying into its future structure.
In addition to Nigeria, IHS has operations in Cote d’Ivoire, Cameroon, Rwanda, Zambia, Sudan and South Sudan.
In December, the towerco bought 1,228 mobile network towers in Rwanda and Zambia from South African giant MTN in a deal worth around US$120m.
IHS is also understood to be one of the companies interested in acquiring towers from India’s Bharti Airtel, which has an African 15,000-site portfolio estimated to be worth around US$1.8bn-US$2bn.
