mtn group ltd intends to shed a stake currently worth around 209 billion in telecommunicationsinfrastructure company ihs holding ltd if ihs successfully carries out its plan for one of the largest ever african listings on a us stock exchange south african telecoms company mtn said friday that ihs had filed a registration document for an initial public offering in new york although no financial details or timing were confirmed ihs had been reported last year to be aiming for a valuation of around 8 billion overall before abandoning the plan mtn currently holds a 29 stake in ihs which operates more than 30000 towers in africa latin america and the middle east a spokesman for mtn said an ipo would allow it to sell down its stake over time the companys other major shareholders include listed french investment company wendel se and goldman sachs group inc ihs listing itself would continue a trend for telecommunicationstower companies to be spun out separately amid growing data use and investor appetite for infrastructure assets vodafone group plc raised 28 billion when it listed vantage towers ag in germany earlier this year african company helios towers plc was valued at 145 billion when it listed in london in 2019 helios towers current market capitalization could provide an indication as to ihss eventual valuation helios is valued at around 269 billion currently having reported adjusted earnings before interest tax depreciation and amortization of 2266 million for 2020 applying a similar earnings multiple to ihss adjusted ebitda of 819 million in 2020 would indicate a valuation of around 97 billion as of june 30 the company had 26 billion of debt and lease liabilities and 542 million of cash on its balance sheet on friday ipo research firm renaissance capital said it estimated that ihs could raise up to 15 billion from its listing