Airtel Africa, a unit of Indian telecom operator Bharti Airtel Ltd, said it had appointed eight banks for an intended initial public offering (IPO) on an international stock exchange.
The company has appointed JP Morgan, Citigroup Inc, BofA Merrill Lynch, Absa Group Limited, Barclays Bank PLC, BNP Paribas, Goldman Sachs International and Standard Bank Group Ltd.
Airtel Africa raises $1.25 bln
Earlier, Airtel Africa Ltd said it raised $1.25 billion from six global investors including SoftBank Group Corp, Warburg Pincus LLC and Temasek Holdings (Private) Ltd.
It also said it was looking to go public on an international stock exchange.
The fundraising, through a primary equity issuance, now values the company at $4.4 billion and will be used to reduce existing debt of about $5 billion and grow its Africa operations, Airtel Africa said.
The subsequent market debut will also be used to reduce debt further, it said.
Latest Stories
-
WAFU B U-17 Girls’ Cup: Black Maidens beat Nigeria on penalties to win inaugral tournament
45 minutes -
Real Madrid beat Sevilla to keep pressure on leaders Atletico
2 hours -
Liverpool put six past Spurs to go four points clear
2 hours -
Manchester United lose 3-0 at home to Bournemouth yet again
2 hours -
CHAN 2024Q: ‘It’s still an open game’ – Didi on Ghana’s draw with Nigeria
2 hours -
CHAN 2024Q: Ghana’s Black Galaxies held by Nigeria in first-leg tie
3 hours -
Dr Nduom hopeful defunct GN bank will be restored under Mahama administration
4 hours -
Bridget Bonnie celebrates NDC Victory, champions hope for women and youth
4 hours -
Shamima Muslim urges youth to lead Ghana’s renewal at 18Plus4NDC anniversary
5 hours -
Akufo-Addo condemns post-election violence, blames NDC
5 hours -
DAMC, Free Food Company, to distribute 10,000 packs of food to street kids
6 hours -
Kwame Boafo Akuffo: Court ruling on re-collation flawed
6 hours -
Samuel Yaw Adusei: The strategist behind NDC’s electoral security in Ashanti region
6 hours -
I’m confident posterity will judge my performance well – Akufo-Addo
7 hours -
Syria’s minorities seek security as country charts new future
7 hours