Though Airtel Nigeria had made more pronounced efforts earlier last year on listing on the Nigerian Stock Exchange (NSE), emerging signals indicate that the India’s telecommunications firm Bharti Airtel, is considering a stock market entry in London for its subsidiary, Airtel Africa Limited.
This may be subsequently followed with another plan to join MTN Nigeria Plc later on the local Exchange.
Recall that two weeks ago, MTN Nigeria listed by introduction its 20.4 billion units on the NSE at N90 per share.
Details disclosed by Reuters revealed further that the India conglomerate is planning to first raise about $1 billion in a June equity offering, before the Sunil Bharti Mittal’s Airtel Nigeria will come to the Nigerian market.
Though checks at the Exchange’s regulatory authority, the Securities and Exchange Commission (SEC), showed that no formal application has been filled, there are underground discussions with market makers on entry strategies.
Business Hilights recalls that Airtel operates in 14 African markets including Democratic Republic of the Congo, Kenya, Nigeria, Rwanda, Seychelles, Uganda and Zambia.
Besides, Airtel is the third largest operator in Nigeria with 26 per cent market share and 45 million subscribers. The firm is the continent’s second-biggest mobile operator after South Africa’s MTN Group.
