Airtel Seeks to List on Nigerian Stock Exchange

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•Considers $1bn London listing

Emma Okonji with agency report

Airtel Africa Ltd, a subsidiary of Indian telecoms group, Bharti Airtel Ltd, is considering a stock market flotation in London, designed to expand its data and mobile money services across Africa.

The telecoms company has also indicated interest to list on the Nigerian Stock Exchange (NSE), which is one of the 14 countries where it currently operates.

When listed on the NSE, Airtel will become the second telecommunication company in Nigeria to be so listed.
Nigeria’s biggest telecommunication by market share, MTN, on May 16, 2019 listed 20.35 billion shares on the Nigerian bourse at N99 per share.

Airtel Africa is aiming to raise about $1 billion in a June equity offering, a source close to the deal said.
Airtel operates in 14 African markets, including Democratic Republic of the Congo, Kenya, Nigeria, Rwanda, Seychelles, Uganda and Zambia.

Last year, the telecom operator…



Source: Thisday Newspaper