Home >Markets >Stock Markets >Airtel Africa's London IPO price set at 80-100 pence per share
The final pricing is expected to be announced on or around June 28, 2019. (Mint)
The final pricing is expected to be announced on or around June 28, 2019. (Mint)

Airtel Africa's London IPO price set at 80-100 pence per share

  • Airtel expects to raise $750 million through IPO
  • The offer is expected to comprise approximately 595.2 million-744.0 million new shares

LONDON : Bharti Airtel Monday announced the price range of its Africa business IPO on the London Stock Exchange at 80-100 pence per ordinary share, through which the company expects to raise $750 million (approximately 5,236 crore).

"The price range for the offer has been set at 80 pence to 100 pence per ordinary share, implying a market capitalisation on admission of between 3,007 million and 3,623 million pounds (approximately $3,788 million-4,565 million)," Airtel Africa said in a London Stock Exchange filing.

The offer is expected to comprise approximately 595.2 million-744.0 million new shares, to be issued by Airtel Africa, to raise gross proceeds of approximately 595 million pounds (approximately $750 million), including the over-allotment option (green-shoe option), the filing said.

"10% of the offer (100%: primary) is expected to be made available pursuant to the over-allotment option... Excluding the over-allotment option, the offer is expected to comprise approximately 541.1 million-676.4 million new shares to be issued by the company to raise gross proceeds of approximately 541 million pounds (approximately $682 million)," the filing said.

The final pricing is expected to be announced on or around June 28, 2019, on the London Stock Exchange, according to the filing.


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