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20 Nov, 2020 08:30 20 Nov, 2020 13:12

Helios Towers slumps after Millicom sells 52m shares

Helios Towers slumped on Friday after Millicom Holding sold 52 million shares in the telecommunications company - a 5.2% stake - at 155p each.

The price represents an 11.6% discount to the closing share price on Thursday.

The placing was conducted through an accelerated bookbuild and is expected to settle on 24 November. Citi and JP Morgan Cazenove acted as joint global coordinators and bookrunners.

Following completion of the placing, Millicom will hold 76.5m shares in Helios, or around 7.6% of the company’s ordinary issued share capital.

At 1310 GMT, the shares were down 11.6% at 155p.

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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.