Airtel Africa plans to raise gross proceeds of $750m through its listing on the main market of the London Stock Exchange, it said on Tuesday. Confirming its intention to float, Africa’s second-largest mobile operator said it would freely float at least 25 per cent of its shares as it looks to pay down its debt. The exact number of shares to be sold and the indicative price range of the offer will be determined “in due course”, it added. Following admission to trading, the group, which is owned by Bharti Airtel of India, will have a net debt to ebitda ratio of 2.5. Airtel Africa operates a t...
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