Bharti Airtel’s subsidiary -- Airtel Africa, which is eyeing over $1 billion initial public offer (IPO) in London, has received approval for its 'registration document' from the UK Financial Conduct Authority. The 'registration document' outlines the general details about the company and post its approval by the Financial Conduct Authority (FCA), the company also has to file a separate draft prospectus to the FCA for approval.
The firm plans to sell 25 percent of new shares of Airtel Africa in the proposed initial public offering (IPO) and is looking to trade on the main market of the London Stock Exchange using its premium listing segment. It is also considering a listing in Nigeria.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
