New Street: IHS Towers IPO Our view on the key debates so far; lease rates, Nigeria, multiple vs Helios
Following our initial pre-IPO note, our conversations with investors ahead of IHS’ IPO so far have centred on 3 elements: sustainability of $2-3,000 leases in Africa, country risk, and whether IHS can sustain a valuation premium vs Helios. All 3 are valid concerns, but our perspectives are generally constructive on them all.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
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