Over the past year, IHS shares have been under pressure from the MTN non-renewal announcement and the significant Naira devaluation. Since then, we have seen a reversal of the former with the renewal of the MTN Nigeria contracts being a key development recently. In our view, this would materially improve the commercial risk profile of the stock. Additionally, capex and EBITDA trends are encouraging as the company is focused on improving cash flow generation. Another key support to the stock we believe would be its strategic review (between $500m and S$1bn) to improve on its leverage and potentially be used for buybacks or dividends (our analysis HERE). We intend to dig deeper into these developments of Africa's largest TowerCo and invite investors to join us.
Communications Events
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Sep
16CommunicationsSeptember 16, 2024Hosted by Soomit DattaEvent Details -
Sep
17CommunicationsSeptember 17, 2024 – September 18, 2024 — JapanHosted by Chris HoareEvent Details
