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.