Sunil Mittal plans IPO for Airtel Africa

By professo

The Indian entrepreneur and founder of Bharti Airtel, has announced plans for an initial public offering (IPO) of the telecommunication firm’s Africa operations.

Mittal is considering a US$8bn float for Airtel Africa, the Sunday Telegraph reported, and has selected eight global banks to work on the listing.

The businessman is working with the Bank of America Merrill Lynch to advise for the lusting later this year.

Mittal is also seeking a communications company to manage the float of the company which currently operates in 15 markets across the continent.

SEE ALSO:

The IPO would be the largest on the London Stock Exchange (LSE) since 2017, when Allied Irish Bank listed for £12bn.

LSE, one of the oldest stock exchanges in the world, has had its slowest start to the year since the financial crisis, linked to Brexit.

Airtel Africa received $1.25bn in October last year from a six-member consortium, which included Japan’s Softbank. Last week, Qatar Investment Authority injected $200mn into the business.

Share

Featured Articles

Meet the COO: Brook Sims of MAC Diversity Recruiters

Passionate about helping others find their voice, diversity leader and COO Brook Sims talks powerful leadership, diverse teams and being a change agent

Best business books to improve leadership strategy

From strategic guides to inspiring CEO memoirs, these new books dish up plenty of principles, strategies, and anecdotes to help you become a better leader

Shoplazza founder and CEO Jeff Li, ex Baidu, on leadership

Named in Fortune China’s 40 under 40 for 2022, former Baidu head Jeff Li is the entrepreneurial founder and CEO of ecommerce platform Shoplazza

The office shifts to new way of working – workplace special

Leadership & Strategy

Trailblazer: Clorox's DEI leader Shanique Bonelli-Moore

Sustainability

The inspirational CEO story – Dean Forbes of Forterro

Leadership & Strategy