As a part of its strategy to enhance footprint in Africa, the India headquartered Bharti Airtel Africa announced that its IPO on the London Stock Exchange will be priced at 80 to 100 pence per share. The company is expected to raise US$ 780 million from the LSE listing. The market capitalization is likely to move up in the vicinity of US$ 3.7 billion to US$ 4.6 billion. The company will issue between 595 million and 744 million shares. Airtel Africa has the second largest mobile operations in the continet. The Indian owned telephone company wants to capture more market in the region. The company, before, issuance of the IPO, will be re-registered as a public limited company and renamed as Airtel Africa Plc . The company concurrently , intends to list itself in Nigerian Stock Exchange. After the listing at both boroughs, the equity structure of the company will undergo a change. The stake of the company and that of the global investors would stand at 75% after the IPO. Currently, Bharti Airtel Africa owns 68.3% of the stakes and the rest is owned by the global investors collectively. It is reported that the proceeds .from the IPO will go mainly for reducing the debt of the company arising from its Africa business pegged at US$ 4 billion at the end of the end of March this year, a decline from US$ 7.8 billion a year ago. Still the
