Investors are calculating the value of Airtel Africa, the African subsidiary of Indian telecoms conglomerate Bharti Airtel, as it is going ahead with a floatation on the London Stock Exchange (LSE).
Bank of America, Citi and JP Morgan are global co-ordinators. Absa Group, Barclays, BNP Paribas, Goldman Sachs, HSBC and Standard Bank are bookrunners.
Airtel Africa is to sell $750m of new shares. The proceeds will be used to reduce net debt. After the listing, Airtel Africa’s net debt will