Airtel Africa has announced the appointment of global banks for an intended IPO on an international stock exchange. The banks appointed are JP Morgan, Citigroup, BofA Merrill Lynch, Absa Group, Barclays Bank PLC, BNP Paribas, Goldman Sachs International and Standard Bank Group. This follows the recent subscription of shares in Airtel Africa by six leading global investors comprising of Warburg Pincus, Temasek, Singtel, SoftBank Group International and others for a total consideration of USD 1.25 billion.
Earlier this month, Airtel Africa also announced its newly constituted board of directors that includes representatives from Bharti Airtel and the investors.
Airtel Africa reported second quarter revenues in constant currency up 10.8 percent year-on-year, led by growth in data and Airtel money transactions. Mobile data traffic expanded by 53 percent to 89 billion MBs while the data customer base increased by 32.1 percent to 27.1 million. Airtel Money's customer base increased to 12.9 million, boosting the total transaction value on Airtel Money platform by 31 percent to USD 6.3 billion. The company also witnessed an improvement of EBITDA margin by 3.9 percent to 37.1 percent.
