Airtel Africa has set a price range of GBP 0.80 to GBP 1.00 per share for its initial public offering (IPO) on the London Stock Exchange. Airtel said this implies a market capitalisation of GBP 3.01 billion to GBP 3.62 billion, excluding an over-allotment option. It said the IPO will see the company float 595.2 million to 744.0 million new shares, raising a total of GBP 595 million, including the over-allotment option.
Airtel said it will also list its shares on the Nigerian Stock Exchange alongside the London IPO. At least 25 percent of the stock is expected to be freely floated immediately following the IPO. Shares are expected to begin trading on 28 June and the final pricing will be announced the same day.
