Telecom Infrastructure major IHS Raises $490 million

Telecom Infrastructure major IHS Raises $490 million

Telecom power group IHS has raised $490 million through equity dilution and debt. The funds will be used for expansion of telecom towers, improving the coverage and on alternative energy.

Goldman Sachs, IFC Global Infrastructure Fund and African Infrastructure Investment Managers picked up stake in the company for collective investment of $420 million. IHS also raised $70 million debt from Standard Chartered Bank.

IHS is considering expansion through acquisition of local players as well. The company recently acquired 1200 towers of MTN in South Africa, Zambia and Rwanda. In year 2013, IHS had setup 1000 towers in Nigeria and Cameroon. IHS currently manages more than 10,000 towers in Nigeria.

The company is also planning major investment in solar energy solutions to reduce it dependency on state power. Also, with alternative energy, the company will be able to reduce its operational costs.

Mobile infrastructure business offers stable income as many telecom operators prefer to hire telecom towers instead of spending money on setup. IHS is planning to expand in many other African markets as well.

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