IHS raises further US$130 million from shareholders

African towers operator IHS Holding says that it has raised an additional US$130 million from investors.

The capital raised is in addition to the US$490 million of debt and equity announced in March and is with existing investors.

IHS said that it will use the funds to accelerate its plans for expansion into new and existing markets.

The company has now raised more over US$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 US$47 million into the company in its latest funding round, taking the investment company’s stake in IHS to US$475 million.

Following this transaction, Wendel remains IHS’s largest shareholder with more than 35% of the capital of the company.

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