Airtel Africa to list simultaneously on NSE, LSE

Airtel Africa Ltd, a unit of India’s Bharti Airtel Ltd, says it intends to list its shares on the Nigerian Stock Exchange (NSE) at the same time as the London Stock Exchange (NSE).

The company said on Monday that although the listing on the NSE was on, it had set a price range of 80 to 100 pence per share for its planned Initial Public Offering (IPO) on the LSE.

The company said that conditional dealings in its shares were expected to begin on or around June 28 and the final pricing would be announced the same day.

The IPO for the London listing is expected to raise 595 million pounds ($749.05 million) from the issuance of about 595.2 million to 744 million new shares.

The company said the price range values it between 3.01 billion pounds and 3.62 billion pounds.

-Reuters/NAN