Airtel Africa to raise atleast USD 750 mn via IPO- eyes London listing

On Tuesday, Telecom operator Bharti Airtel said its subsidiary Airtel Africa expects to raise atleast USD 750 million (approx Rs 5,189 crore) through a public offer and subsequent listing on the London Stock Exchange.

Airtel Africa offers telecom services in 14 countries in Africa. It was the second largest mobile operator in Africa by number of active subscribers as on december 31, 2018.

Bharti Airtel in a regulatory filing said that the offer is targeted to raise USD 750 million (plus primary greenshoe option of upto 15 percent) and will be used to reduce net debt.

Also said, "Airtel Africa intends to proceed with an initial public offering for admission and listing of its shares on the main market of London Stock Exchange (premium segment)". Airtel Africa is also considering listing its shares on the Nigerian Stock Exchange.