>>> Airtel Africa announces potential intention to list on LSE

Airtel Africa announces potential intention to list on LSE

Airtel Africa, a subsidiary of India-based Bharti Airtel [BOM:532454], has announced its potential intention to undertake an IPO to list its shares on the London Stock Exchange (LSE). Bharti Airtel has informed this to the BSE.
Announcement
In furtherance to our previous intimations in this regard, we wish to inform you that Airtel Africa, a subsidiary of the Company, has announced its potential intention to undertake an IPO for listing its equity shares on the LSE and the expected publication of a Registration Document that has been submitted for approval to the UK Financial Conduct Authority.
As reported, citing undisclosed sources, Bloomberg had said on 6 May 2019 that Airtel Africa intended to formally announce a London IPO during May 2019 and was targeting to begin trading next month.
Airtel Africa could raise around USD 1bn via the planned IPO, the sources said, and added that the company was contemplating seeking around a USD 5bn equity valuation.
The listing date and valuation were yet to be finalised, and market sentiment and investor demand could determine the final details, the sources said.