Industry Newsroom

Airtel Africa Raises USD755 Million in IPO

Airtel Africa, an operator of telecoms and mobile banking services throughout Africa, has raised GBP595 million (approximately USD755 million) in its initial public offering. The company sold 705 million shares on the London Stock Exchange and 39 million shares on the Nigerian Stock Exchange for GBP0.80 (USD1.01) per share. Airtel Africa is backed by global private equity fund manager Warburg Pincus, which acquired a 7.7 percent stake in the company in 2018 through Warburg Pincus Private Equity XII.