Sunil Mittal plans IPO for Airtel Africa

By professo
Share

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

SAP has announced it has appointed a new President for a newly-created EMEA region, aiming to make the most of the opportunities of cloud and AI technology

Technology giant SAP has expanded its portfolio with the acquisition of LeanIX, a leader in enterprise architecture management (EAM) software

To help businesses achieve increased productivity, Siemens and Microsoft are deepening their partnership by showcasing the benefits of generative AI