Airtel’s African Arm To Raise $750 Million Through London IPO

Telecom operator Bharti Airtel Ltd. said its subsidiary Airtel Africa expects to raise at least $750 million or Rs 5,189 crore through a public offer and subsequent listing on the London Stock Exchange.

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

It added that 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).

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