Airtel Africa's Malawi Unit Raises USD38 Million In IPO

(Alliance News) - Airtel Africa PLC on Friday said unit Airtel Malawi raised a total of MK27.92 ...

Alliance News 14 February, 2020 | 8:19AM
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(Alliance News) - Airtel Africa PLC on Friday said unit Airtel Malawi raised a total of MK27.92 billion, around USD37.5 million, in its initial public offering on the Malawi Stock Exchange.

The FTSE 250-listed telecoms company said that the IPO - which was first announced in December - was fully subscribed. The share price has been set at MK12.69 per share and 2.20 billion shares were issued, representing 20% of shares outstanding.

Airtel Africa is a subsidiary of India's Bharti Airtel and operates in 14 countries across Africa. It floated on the London Stock Exchange in June 2019.

The stock was down 0.7% at 74.95 pence each on Friday morning in London.

By Ife Taiwo; ifetaiwo@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Airtel Africa PLC Ordinary Shares 70.55 GBX -1.54 -

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