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Airtel Africa expects London IPO to be priced between 80-100 pence share

Credit: REUTERS/ADNAN ABIDI

Airtel Africa Ltd <IPO-AIRTA.L>, a unit of India's Bharti Airtel Ltd, on Monday set a price range of 80 to 100 pence per share for its planned initial public offering on the London Stock Exchange.

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June 17 (Reuters) - Airtel Africa Ltd IPO-AIRTA.L, a unit of India's Bharti Airtel Ltd BRTI.NS, on Monday set a price range of 80 to 100 pence per share for its planned initial public offering on the London Stock Exchange.

The IPO is expected to raise 595 million pounds ($749.05 million) from the issuance of about 595.2 million to 744 million new shares.

The company said the price range values it between 3.01 billion pounds and 3.62 billion pounds at the price range.

Airtel Africa also said it intends to list its shares on the Nigerian Stock Exchange at the same time as the London listing.

The company said conditional dealings in its shares are expected to begin on or around June 28 and the final pricing will be announced the same day.

($1 = 0.7943 pounds)

(Reporting by Shariq Khan in Bengaluru; Editing by Bernard Orr)

((Shariq.Khan@thomsonreuters.com; Within U.S.+1 646 223 8780, outside U.S. +91 80 6749 9759;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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