Airtel Africa Looks at $1 Billion London Listing

Tuesday, May 28, 2019

By Clara Denina

Airtel Africa Ltd, a subsidiary of Indian telecoms group Bharti Airtel Ltd , is considering a stock market flotation in London, it said on Tuesday, part of efforts to expand its data and mobile money services across Africa.

The company is aiming to raise around $1 billion in a June equity offering, a source close to the deal said. Airtel operates in 14 African markets including Democratic Republic of the Congo, Kenya, Nigeria, Rwanda, Seychelles, Uganda and Zambia.

Last year, the telecom operator raised $1.25 billion from six global investors including SoftBank Group Corp, Warburg Pincus LLC and Temasek Holdings (Private) Ltd.

A further $200 million was raised in January from the Qatar Investment Authority (QIA), valuing the company just under $5 billion.

Photo courtesy of Neil Palmer.

Source: Reuters (link opens in a new window)

Technology, Telecommunications