Airtel Africa To List On Nigeria Stock Exchange, London Stock Exchange at the same time

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A billboard for telecommunications company Airtel is seen in Libreville, Gabon's capital, January 16, 2017. REUTERS/Mike Hutchings

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 (LSE).

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.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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