Airtel Africa to go for public offer, London Stock Exchange listing

Telecom operator Bharti Airtel on Tuesday said Airtel Africa plans to go for an initial public offer and listing on London Stock Exchange.

“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 initial public offering for listing its equity shares on London Stock Exchange…,” Bharti Airtel said in a filing to BSE.

It added that related documents have been submitted for approval to the UK Financial Conduct Authority. The company, which offers telecom services in 14 countries in Africa, plans to use the proceeds from issue of new shares to reduce debt.