Bharti Airtel on Tuesday said its subsidiary Airtel Africa expected to raise at least $750 million through its listing on the main market of the London Stock Exchange (LSE).
The proceeds from the listing, Bharti Airtel added, would be used to reduce the net debt.
“The offer is targeted to raise $750 million (plus a primary greenshoe option of up to 15%) and will be used to reduce the net debt,” Bharti Airtel said in a filing to the stock exchanges.
Bharti Airtel further added that Airtel Africa was also considering a listing of its shares on the Nigerian Stock Exchange.
