Airtel Africa Targets $750m in London IPO

Telecommunications

Airtel Africa Ltd, a subsidiary of India’s Bharti Airtel Ltd, on Tuesday said it will proceed with its plan to list shares on the main market of the London Stock Exchange through an initial public offering (IPO).

“The offer is targeted to raise $750 million (plus primary greenshoe option of up to 15%) and will be used to reduce net debt,” Bharti Airtel said in a regulatory filing.

Airtel Africa would proceed with an initial public offering for admission and listing of its shares on the main market of the London Stock Exchange (premium segment), it added.

Additionally, Airtel Africa is also considering listing its shares on the Nigerian Stock Exchange. Continue reading

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