Photo by: Reuters
Airtel Africa's planned initial public offering (IPO) on the LSE is expected to price at 80p, the bottom end of its indicated price range, one of the bookrunners handling the sale said.
Airtel Africa, a unit of India's Bharti Airtel, last week set a price range of 80p to 100p a share for its IPO, which is expected to raise £595-million from the issuance of 595.2-million to 744-million new shares.
The bookrunner, which said on Monday it had received indications of interest worth about $200-million from pre-IPO investors, said it had further investor orders of $100-million.