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Helios Share Price Falls as Shareholders Sells 80mln Worth of Stock

Practice Stock Trading
Updated: 20 November 2020

Shares of Helios Towers PLC (LON: HTWS) fell more than 12% on Friday on news that Millicom subsidiary sold a part of its stake in the company. 

Citigroup announced that Millicom Holding BV, a unit of Millicom International Cellular SA, sold a 5.2% stake in Helios in an accelerated book-building process. 

According to the statement, Millicom sold 52 million shares at a price of 155p in exchange for 80.6 million pounds. Once the transaction is completed, Millicom will own another 76.5 million shares, which represents a 7.6% stake. 

The transaction is expected to close on Tuesday while Helios Towers will not receive any proceeds from the placing, according to Citigroup, who is acting as a broker together with JP Morgan. 

Helios Towers share price falls sharply as shareholder exits November 2020

Helios share price now trades at 155p or 11.63% in the red on a day to erase gains made in the past 5 weeks. 

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