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Bharti Airtel to list Africa business on London Stock Exchange

May 28, 2019
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Bharti Airtel is planning to list its Africa unit on the London Stock Exchange.

As per industry estimates, Airtel can raise over $1 billion through the initial public offer (IPO) of its Africa business, which is expected to get completed by end of June 2019.

Earlier in February 2018, Airtel had announced plans to take its Africa subsidiary public and in October 2018 it completed an initial round of pre-IPO funding of $1.25 billion. aAs part of this round, Airtel issued 841,908,798 shares to entities affiliated with the Warburg Pincus Parties, Temasek Holdings Private Limited, Singapore Telecommunications Limited and SoftBank Group International. Further, in January 2019, Qatar Investment Authority announced that it would invest $200 million in the Africa arm.

The company has appointed JP Morgan, Citigroup Inc, BofA Merrill Lynch, Absa Group Limited, Barclays Bank PLC, HSBC, BNP Paribas, Goldman Sachs International and Standard Bank Group Limited as advisers.

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