Airtel Africa to raise $750 million via IPO, eyes London listing

New Delhi: Bharti Airtel on Tuesday said its subsidiary Airtel Africa expects to raise at least $750 million (around ?5,189 crore) through a public offering and subsequent listing on the London Stock Exchange.

“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.

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