Airtel Africa Ltd, which is a subsidiary of India’s Bharti Airtel Ltd, says it plans to simultaneously list its shares on the London Stock Exchange (LSE) and the Nigerian Stock Exchange (NSE).

On Monday, the company said that it had already set a price range of 80 to 100 pence per share for its planned Initial Public Offering (IPO) on the LSE, even although the listing on the NSE was on.

The telecom company said that conditional dealings in its shares were planned to start on or around June 28 and the final pricing would be announced the same day.

The IPO for the London listing is expected Via the IPO for the London Listing, the company hopes to raise 595 million pounds ($749.05 million) from the issuance of about 595.2 million to 744 million new shares.

Airtel said the price range values it between 3.01 billion pounds and 3.62 billion pounds.

Justin Nwosu

Justin Nwosu is the founder and publisher of Flavision. His core interest is in writing unbiased news about Nigeria in particular and Africa in general. He’s a strong adherent of investigative journalism, with a bent on exposing corruption, abuse of power and societal ills.