Airtel Africa plans $750 mn London Stock Exchange listing

Airtel Africa, a unit of Bharti Airtel, plans to raise $750 million through a listing on the London Stock Exchange, the proceeds of which will be used to reduce the net debt.

“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 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.