Bharti's holding company for Africa explores IPO in international exchange

The board of Bharti Airtel's Netherlands based unit, BAIN BV, which controls Africa operations, has approved listing of its shares on a global stock exchange.

"Board of Directors of BAIN BV on February 12 has authorized its management to initiate non-binding exploratory discussion with various banks/intermediaries to explore possibility/feasibility of listing of its shares on an internationally recognised stock exchange," Bharti Airtel said in regulatory filing.

The discussions are of exploratory nature and there is no certainty on the outcome of these discussions, it said.

Bharti Airtel operates in 14 African countries and all the operations are managed by Bharti Airtel International (Netherlands) BV (BAIN).

The company offers 3G services, Airtel Money across all the 14 countries and 4G services in 4 countries of Africa. As on December 31, 2017, the company reported to have 84.13 million customers in Africa.