Airtel Africa opened the markets of the London Stock Exchange to mark the occasion of the pricing of its initial public offering (IPO) on 28 June 2019.
The company raised gross proceeds of £595 million from a mix of new institutional and existing Airtel Africa investors.
Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries, primarily in East Africa and Central and West Africa.
Sunil Bharti Mittal, chairman of Airtel Africa said: “The strong support we have received from institutional investors demonstrates the attractive investment proposition Airtel Africa offers the market.”
Since first investing in Africa almost nine years ago, we have leveraged our expertise in emerging markets to deliver on a clearly defined strategy to build Airtel Africa into a market-leading mobile service provider, increasingly expanding beyond voice into data services and Airtel Money, Sunil Mittal said.