Sunil-Mittal led country's second biggest wireless carrier is gearing ahead with its Africa unit IPO. Through the initial offer, the company looks at raising $1 billion. Sources privy to the matter said that Airtel Africa is yet to make the announcement for London listing this month and will begin trading in June.
The IPO of Airtel Africa can emerge as one of the biggest offering in London this year. The company is considering attaining a valuation of $5 billion.
Last year, the Africa unit of Airtel raised $1.25 billion from investors that are Temasek Holdings Pte and SoftBank Group Corp., providing it an equity valuation of about $4.4 billion. Airtel serves in 14 of the African markets namely Kenya, Tanzania, Nigeria and Ghana amongst others.