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IHS Holding Limited (symbol: IHS) is the largest independent mobile telecommunications infrastructure provider across Europe, Africa, and the Middle East. Founded in 2001, IHS has established itself as a leader in the industry by offering a full spectrum of services in the tower value chain. This includes tower sharing, colocation on owned towers, and managed services, along with the deployment and ownership of sites. The company is also responsible for the comprehensive construction of telecommunication networks, encompassing site acquisition, design, equipment supply, electromechanical installation, integration, and testing.
With a robust presence in countries like Nigeria, Cameroon, Côte d'Ivoire, Zambia, and Rwanda, IHS currently oversees more than 23,300 towers in Africa. This comes as a result of strategic acquisitions, including the recent purchase of MTN and Etisalat's tower portfolios in Nigeria. IHS's extensive industry experience and technical know-how have enabled it to build long-term relationships with international telecom operators such as MTN, Etisalat, Orange, and Airtel, marking its 14-year track record in the market.
The company's core business lies in providing telecommunications infrastructure to mobile network operators (MNOs), which then offer wireless voice and data services to their end-users. IHS operates across various geographical segments, including Nigeria, Sub-Saharan Africa, the Middle East and North Africa (MENA), and Latin America (Latam). A significant portion of IHS's revenue is derived from its operations in Nigeria, highlighting its strong foothold in the region.
Backed by a depth of technical and industry knowledge, IHS Holding Limited continues to innovate and expand its footprint, ensuring it remains a key player in the ever-evolving telecommunications landscape.
IHS Towers has signed a definitive agreement to sell its 70% stake in IHS Kuwait to Zain Group. The deal includes approximately 1,675 owned sites and 700 managed sites in Kuwait. The transaction, valued at an enterprise value of $230 million, represents a multiple of 14.2x based on IHS Kuwait's estimated Adjusted EBITDA after leases. This multiple is notably higher than IHS Towers' current valuation. The deal is expected to close in the first half of 2025, subject to regulatory approvals. The proceeds will be primarily used to reduce company debt, aligning with IHS Towers' strategic review focused on shareholder value-creation.
IHS Holding (NYSE: IHS) has successfully priced a dual tranche senior notes offering totaling $1.2 billion. The offering consists of $550 million 7.875% Senior Notes due 2030 at 8.150% yield and $650 million 8.250% Senior Notes due 2031 at 8.500% yield. The company plans to use the proceeds to partially buyback its 2026 and 2027 Notes, repay a Group bilateral loan, cover transaction fees, and for general corporate purposes. Settlement is expected around November 29, 2024. A tender offer for the existing notes and consent solicitation for the 2027 Notes is ongoing, with completion expected around December 16, 2024.
IHS Holding (NYSE: IHS), a leading global communications infrastructure operator rated B+ (Stable) by S&P and Fitch, has announced plans for a potential dual-tranche Senior Notes offering. The company has appointed several major banks as Joint Global Coordinators and Joint Bookrunners for a Global Investor Call and investor meetings. The offering includes 5.5NC2 and 7NC3 Reg S / 144A USD benchmark notes. IFC, EAAIF, and PROPARCO have indicated intentions to purchase up to $170 million in the New Notes. Additionally, IHS Towers announced tender offers to buyback up to $250 million of its 5.625% Senior Notes due 2026 and up to $475 million of its 8.000% Senior Notes due 2027.
IHS Holding reported Q3 2024 financial results with revenue of $420.3 million, down 3.5% quarter-over-quarter and 10.0% year-over-year. Adjusted EBITDA reached $246.0 million with a 58.5% margin, increasing 3.3% year-over-year. The company reported a loss of $205.7 million, primarily due to $236.0 million in unrealized FX losses. Cash from operations was $182.4 million, with Adjusted Levered Free Cash Flow of $87.1 million.
The company reiterated its 2024 guidance for Revenue ($1,670-1,700M), Adjusted EBITDA ($900-920M), and ALFCF ($250-270M), while reducing Total Capex guidance to $270-300M. Notable achievements include renewed contracts with MTN Nigeria through 2032 and increased contracted revenues to $12.3 billion.
IHS Holding has scheduled the release of its third quarter 2024 financial results for Tuesday, November 12, 2024, at approximately 6am ET (11am UK time). The company will host a conference call and webcast to discuss the results at 8:30am ET (1:30pm UK time) on the same day. Interested parties can access the conference call using the dial-in numbers +1 646 307 1963 (U.S./Canada) or +44 20 3481 4247 (UK/International) with call ID 5159017.
IHS Holding (NYSE: IHS) reported Q2 2024 financial results with revenue of $435.4 million, up 4.2% from Q1 2024 but down 20.3% year-over-year due to a $490 million FX headwind from Nigerian Naira devaluation. Adjusted EBITDA was $250.8 million (57.6% margin), down 11.9% year-over-year. The company reported a loss of $124.3 million, primarily due to unrealized FX losses. IHS reduced its 2024 guidance, now expecting revenue of $1,670-1,700 million and Adjusted EBITDA of $900-920 million. Key developments include contract renewals with MTN in South Africa, Rwanda, and Nigeria, and progress on a strategic review targeting $500 million to $1 billion in asset sales to reduce debt.
IHS Towers (NYSE: IHS) and MTN Group (JSE: MTN) have strengthened their strategic partnership by renewing and extending communications infrastructure deals across six African markets. The agreement covers approximately 26,000 MTN tenancies on IHS Towers infrastructure in Nigeria, Rwanda, Côte d'Ivoire, Cameroon, Zambia, and South Africa, extending until December 2032.
The renewed contracts include new financial terms aimed at providing a more sustainable split between local and foreign currency. With the commercial relationship secured for the next decade, both companies will work to resolve previously raised governance issues. MTN Group owns about 26% stake in IHS Towers, predating the tower company's NYSE listing in 2021.
IHS Towers, a leading global communications infrastructure provider, has announced the renewal and extension of all tower Master Lease Agreements (MLAs) with MTN Nigeria until December 2032. This agreement covers approximately 13,500 tenancy contracts, including the renewal of 1,430 tenancies out of the 2,500 that were due to expire in 2024 and 2025. The new terms include a more balanced split between local and foreign currency, as well as a new diesel-linked component to hedge against price fluctuations.
This renewal underscores the critical role of IHS Towers' infrastructure in enabling mobile connectivity for MTN Nigeria, which serves about 79 million subscribers. The agreement includes escalators linked to both US and Nigerian Consumer Price Indices, as well as a component indexed to diesel power costs. This marks the completion of all tower MLA renewals in Nigeria for IHS Towers, strengthening its partnership with MTN.
IHS Holding (IHS) has announced the scheduled release of its second quarter 2024 financial results on Tuesday, August 13, 2024. The earnings report will be available at approximately 6am ET (11am UK time) on the company's website and through news services. Following the release, IHS will host a conference call and webcast at 8:30am ET (1:30pm UK time) to discuss the Q2 2024 results.
Interested parties can access the conference call using the following dial-in numbers: +1 646 307 1963 for U.S./Canada and +44 20 3481 4247 for UK/International. The call ID is 9900919. A webcast registration link is also provided for those who prefer to participate online.
IHS Holding (NYSE: IHS), a leading global provider of shared communications infrastructure, announced the results of its 2024 Annual Meeting of Shareholders, held on June 28, 2024. Key decisions include the re-election of four independent directors and several significant amendments to the company’s memorandum and articles of association. Changes include declassifying the board in two phases, lowering the threshold for shareholder nominations and business proposals from 30% to 10%, and introducing new rights for shareholders with at least 25% ownership. CEO Sam Darwish highlighted ongoing strategic reviews, commercial progress, and strong balance sheet. Recent contracts with MTN and Airtel signify robust commercial traction, reinforcing IHS Towers' leading position in Africa. Full voting results and amended documents are available in the company's Form 6-K filed with the SEC.
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