MTN Uganda is set to transform the Ugandan capital market with the biggest initial public offering (IPO) since the Uganda Securities Exchange was launched. It could boost the number of shareholders registered in Uganda from current 40,000 to 200,000. Parent company MTN is Africa’s biggest mobile phone company by subscribers. The IPO covers 20% of […]
IPO ALERT – Namibia is gearing up for its biggest initial public offering (IPO) when Government sells 49% of the leading telecommunications company MTC Namibia. The IPO prospectus is set to be published on 20 September and the share offer will open the same day and is likely to close at 12 noon local time […]
A telecoms firm launched in Lagos is set to be Africa’s biggest listing in the United States with a suggested $7bn valuation. IHS Holding Ltd, which operates up to 28,000 wireless telcoms towers across nine countries, announced plans to go ahead with a potential initial public offering (IPO) of shares to investors in a press […]
Zambia Forestry and Forest Industries Corporation PLC today (12 February) brought welcome relief to the Lusaka Securities Exchange when it broke a 6-year listing drought. The listing was for the full 400 million shares, after an offer of 160m shares (40%) at ZMW2.06 each to raise ZMW330m ($22.5m). The forestry firm will use the proceeds […]
The MERJ Exchange, the national securities exchange of Seychelles, has extended its $4 million initial public offer (IPO) to 28 February in the form of tokenized shares. The exchange already listed the tokens on itself by introduction on 7 August 2019 and opened the IPO on 10 September. The exchange, previously known as Trop-X, says […]
Mobile telephone infrastructure company Helios Towers raised $364 million and listed on the London Stock Exchange yesterday 15 October. The stock HTWS launched at the bottom of the target price range at 115p and traded in a range of 115.00 – 126.98 over the day. Excluding the “greenshoe” extension the offer raised $318m, according to […]
Africa’s next mega-listing on the London Stock Exchange is an African company that operates 7,000 towers in the mobile telecommunications sector that continues to show strong growth. According a a recent report on Reuters, Helios Towers Ltd has priced its initial public offering (IPO) at 115-145 pence per share on 2 October, implying a total […]
Enterprises based in Africa raised $341 million through equity issues in the first half of 2019, down 28% on the $472m raised in the first half of 2018. Law firm Baker McKenzie has published its Cross-Border IPO Index for H1 2019, using data sourced from Refinitiv, and says this was mainly because only $85m was […]
Shares in Africa’s second biggest telecom company had a disappointing start in conditional trading on the London Stock Exchange today. The initial public offer had been priced at the bottom of the 80p-100p range, and in exchange trading it quickly plummeted 16% from 80p and by 4pm the shares had retreated to around 67p. Today […]
Airtel Africa has confirmed that it is going ahead in June 2019 with its $750 million listing on the main market of the London Stock Exchange, as flagged up in January in our article. Owned by India’s Bharti Airtel, it is Africa’s second biggest mobile operator with operations in 14 countries and has 99m subscribers […]
Telecommunications firm MTN Nigeria has had strong days of trading since it joined the Nigerian Stock Exchange in a listing by introduction on 16 May. As it moves closer to what the company may feel is “fair value”, chances of a future initial public offering (IPO) increase. The $5.1bn listing of 20.4 billion (20,354,513,050) ordinary […]
Africa-focused companies raised $2.17 billion via 18 share offers (IPO) and listings in 2018, but the number is down 25% from $2.89bn raised in 2017 with 26 share offers and listings. According to asset manager Enko Capital, the slowdown was driven by “unfavourable market conditions”. The Egyptian Exchange had 4 IPOs in 2018, and Ghana, […]
++ STORY UPDATED AFTER ARTICLE IN SUNDAY TELEGRAPH IN UK ON 3 FEB 2019 ++ Airtel Africa, a UK-based company, is on track for an initial public share offer (IPO) on an international stock exchange in 2019 expected to raise $1.25 billion. Last November 2018 the board announced it had appointed 8 global banks JP […]
Roundup of African share offers (IPOs) for investors, including CIPLA-QCI closing 24 Aug in Uganda, Giza Spinning and Weaving in Egypt and telco MTN listings in Uganda, Ghana and Nigeria.
Africa’s £1.98 billion ($2.68bn) megalisting Vivo Energy (VVO) soared in its first 2 days of trading on the London Stock Exchange (dual-listed in Johannesburg ) on 10-11 May after a successful initial public offer (IPO) raised £548m.
There are 108 African companies listed or trading on the London Stock Exchange with total market capitalization of over $200 billion ($271bn). In the last 10 years they have raised more than $16 bn on London’s markets.
Brexit, the UK’s decision to leave the European Union, is having a global ripple effect. Will Brexit affect initial public offerings (IPOs) in Africa?
African share issuers have raised $1.4bn in 2017 through initial public offers (IPOs) of shares, compared to $1.2bn in 2016.
A round-up of recent African IPOs and other listings, many over-subscribed, shows demand and innovation – Namibia scored its first SPAC and Mauritius listed GDRs.
Investors have been snapping up Africa-focused IPOs of shares; future listings include a reported offer by Vivo Energy and AfriTin, Cytonn Investments and Hystead.