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

Nigel Firth
Nigel Frith trader
Updated 20 Nov 2020

Practice Stock Trading
helios Towers

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. 


Nigel Firth
Nigel has been in the regulated financial services industry for nearly a decade, has previously owned a financial brokerage and has written many times for sites relating to personal finance and trading.