Airtel Africa Plc released its prospectus for a global Initial Public Offer (IPO) of ordinary shares worth $750mn (N270.0bn). The offer size translates to an addition of 595.2 million to 744.0 million ordinary shares to its current shareholding.

The Company expects to be admitted to the premium listing segment of the main board of the London Stock Exchange (LSE) at an offer price ranging between £0.8-£1.0/share. Also, the offer price for the Nigerian issue is expected to be within the range of N363 and N454/share, scheduled for listing on 4^th of July.

 KEY INFORMATION FOR INVESTORS

• ISSUER – Airtel Africa Plc
• DOMICILE AND LEGAL FORM OF ISSUER – the United Kingdom, Public Company limited by Shares
• ISSUING HOUSES – Barclays Securities Nigeria Limited and Quantum Zenith Securities & Investments Limited
• METHOD OF OFFER – By way of book building
• CURRENCY OF ISSUE – Nigerian Naira The currency of issue of Offer Shares sold pursuant to the Nigerian Offer shall be Naira.
• OFFER PRICE – ₦363 to ₦454 (80 pence to 100 pence) The Offer Price for Offer Shares sold pursuant to the Nigerian Offer shall be determined by reference to the £:US$ last practicable date prior to pricing and may, therefore, differ from the indicative range set out herein
• OFFER SIZE – 501,125,542 to 716,406,927 ordinary shares.
• PURPOSE – The sole purpose of the issue is to deleverage the company’s balance sheet.
• TYPE AND CLASS OF SECURITIES BEING ADMITTED TO TRADING – Ordinary shares of US$1.00 each ranking pari passu with other issued Ordinary Shares of the issuer
• FUNGIBILITY STATUS: The shares listed on the NSE are fungible which means the shares can be traded on the London stock exchange (LSE)
• NIGERIAN ADMISSION – Application has been made to Nigerian SEC and stock exchange (NSE) for registration of the Ordinary Shares set to be issued in connection with the offer.
• EXPENSES CHARGED TO THE INVESTOR NOT APPLICABLE. – No expenses will be charged by the Company to any investor who purchases the Nigerian Offer Shares pursuant to the Nigerian Offer

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