Bharti Airtel update on proposed IPO of subsidiary, Airtel Africa

Bharti Airtel announced that its subsidiary, Airtel Africa has informed the company its intention to proceed with an initial public offering (the "IPO" or the "Offer"), for admission and listing of its shares on the main market of the London Stock Exchange (Premium Segment). The Offer is targeted to raise USD 750 million (plus a primary greenshoe option of up to 15%) and will be used to reduce the net debt. Further, Airtel Africa is also considering a listing of its shares on the Nigerian Stock Exchange.

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