Airtel Africa Ltd, a subsidiary of India’s Bharti Airtel Ltd, has given indications it intends to list its shares on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (NSE).
The company said on Monday that although processes towards listing on the NSE was on, it had set a price range of 80 to 100 pence per share for its planned Initial Public Offering (IPO) on the LSE.
The company said that conditional dealings in its shares were expected to begin on or around June 28 while the final pricing would be announced the same day.
The IPO for the London listing is expected to raise 595 million pounds ($749.05 million) from the issuance of about 595.2 million to 744 million new shares.
The company said the price range values it between 3.01 billion pounds and 3.62 billion pounds.
Meanwhile, the Nigerian Stock Exchange, (NSE), in partnership with REDmoney Group, said it is set to hold the inaugural edition of the IFN Nigeria Forum themed, “Harnessing the Islamic Finance Sector for Infrastructure Development and Economic Growth”.
The forum, according to the NSE, is aimed at promoting the growth and development of the Nigerian Islamic Finance industry and facilitating the growth of a new asset class in the capital market.