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FILE PHOTO: On 16 January 2017, Libreville, capital of Gabon, sees a billboard for the telecommunications company Airtel. REUTERS / Mike Hutchings
(Reuters) – Airtel Africa Ltd (IPO-AIRTA.L), a subsidiary of the Indian company Bharti Airtel Ltd (BRTI.NS), set a price range of 80 to 100p per share on Monday for its IPO on the London Stock Exchange.
The IPO is expected to bring in 595 million pounds following the issuance of approximately 595.2 million to 744 million new shares.
The company said the price range was worth between 3.01 billion pounds and 3.62 billion pounds at the price range.
Airtel Africa also announced its intention to list its shares on the Nigerian Stock Exchange at the same time as its listing in London.
The company has indicated that conditional transactions on its shares should begin on or about June 28 and that the final price will be announced on the same day.
Shariq Khan's report to Bengaluru; Edited by Bernard Orr
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