Airtel Africa closes books on IPO

By Aidan Gregory, Sam Kerr
27 Jun 2019

The £540m IPO of Airtel Africa, the African division of India’s Bharti Airtel, has been priced at 80p, the bottom of the initial range, following a $100m anchor order from an existing investor, according to a source close to the transaction.

At that price, the IPO is oversubscribed and Airtel Africa will be valued at £3bn when it begins trading on the London Stock Exchange on July 3. The books are set to close on Thursday afternoon.

The source close to the transaction said that Airtel Africa had ...

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