Airtel Africa seeks to raise at least $750 million via London listing

Bharti Airtel Limited will raise $750 million (about Rs 52 billion) by selling shares of its Africa unit via an initial public offering (IPO) and list them on the London Stock Exchange. In case of an oversubscription, the company will raise an additional $112.5 million (15 per cent of the offer size) in the greenshoe option. The proceeds from the maiden share sale will be used to pare Airtel Africa’s net debt. Airtel Africa is also considering listing shares on the Nigerian Stock Exchange.