Airtel Africa plans to list on LSE, may use proceeds to cut $ 2-bn debt

The company is hoping to mop up $ 1 billion from the listing

Bharti Airtel on Tuesday said its Africa unit (Airtel Africa) planned an initial public offering (IPO) and list on the London Stock Exchange, and that might fetch the company close to $1 billion.

The company announced its plans for an IPO of its Africa unit last year. It is learnt that the company plans to sell 25 per cent of the new shares of Airtel Africa in the proposed IPO and is looking to trade on the main market of the London Stock Exchange, using its premium listing segment.

The telecom operator last year raised $1.25 billion from six global