Telecom
IHS Raises Antoher $130m from Investors
African towers operator IHS Holding said that it has raised an additional $130 million from investors to accelerate its plans for expansion into new and existing markets
The capital raise is in addition to the $490 million of debt and equity announced 3 March 2014 and is with existing investors..
The company has now raised more than $1.6 billion from investors over the past year as it buys up tower assets from mobile networks across the continent.
One of its main backers is South Africa based Wendel which said in a statement that it had pumped $47 million into the company in its latest funding round, taking the investment company’s stake in the company to $475 million.
Following this transaction, Wendel remains IHS’s largest shareholder with more than 35% of the capital of the company.