Telecom

Airtel Africa expects London IPO to be priced between 80-100 pence a share

Updated : June 17, 2019 12:23 PM IST

Airtel Africa Ltd, a unit of India's Bharti Airtel Ltd, on Monday set a price range of 80 to 100 pence per share for its planned initial public offering on the London Stock Exchange.

The IPO is expected to raise 595 million pounds ($749.05 million) from the issuance of about 595.2 million to 744 million new shares.

The company said the price range values it between 3.01 billion pounds and 3.62 billion pounds.

Airtel Africa also said it intends to list its shares on the Nigerian Stock Exchange at the same time as the London listing.

The company said conditional dealings in its shares are expected to begin on or around June 28 and the final pricing will be announced the same day.

($1 = 0.7943 pounds)

Have you signed up for Primo, our daily newsletter?

It has all the stories and data on the market, business, economy and tech that you need to know.

To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more