Airtel Africa to price London listing at bottom of range – bookrunner


June 26 – Airtel Africa Ltd’s (IPO-AIRTA.L) planned initial public offering on the London Stock Exchange is expected to price at 80 pence, the bottom end of its indicated price range, one of the bookrunners handling the sale said.

Airtel Africa, a unit of India’s Bharti Airtel Ltd , last week set a price range of 80 to 100 pence per share for its IPO, which is expected to raise 595 million pounds from the issuance of 595.2 million to 744 million new shares.

The bookrunner, which said on Monday it had received indications of interest worth about $200 million from pre-IPO investors, said it had further investor orders of $100 million. (Reporting by Justin George Varghese in Bengaluru; editing by David Evans)

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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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