African phone firm confirms £3.6bn London IPO

African phone firm confirms £3.6bn London IPO
Source: BBC.COM
Date: 17-06-2019 Time: 01:06:32:pm
Airtel is targeting about £3.6bn in the IPO

Africa's second largest mobile phone operator Airtel Africa Monday confirmed plans to float on the London Stock Exchange.

It's targeting a £3.6bn valuation for its IPO on 28 June.

The group has set its price range for the float at between 80p and 100p per share.

Airtel Africa also said it intends to list its shares on the Nigerian Stock Exchange at the same time as the London listing.

The company, which is owned by Indian telecommunications giant Bharti Airtel, operates a telecoms and mobile money business across 14 African countries.