UPDATE 2-Delayed Airtel Africa's $4.4 bln Nigeria listing to go ahead on Monday

(Releads with arranger's comment on listing)
By Chijioke Ohuocha
LAGOS, July 5 (Reuters) - Airtel Africa aims to list on the
Nigerian bourse on Monday, one of the financial advisors
arranging the issue said, after the exchange postponed the
listing which had been scheduled for Friday.
The Nigerian Stock Exchange on Friday said the secondary
listing of Airtel Africa AAF.L shares planned for July 5 had
been postponed to ensure the telecoms company meets its listing
requirements. A source at the arranger told Reuters the delay was due to a
manual allotment process of transferring the shares to new
investors.
India's Bharti Airtel BRTI.NS last week offered shares in
its African unit via a London IPO and it would dual list in
Nigeria, its biggest market in Africa.
Nigeria's bourse said it postponed the cross-border listing
of 3.76 billion shares of Airtel Africa, but allowed Airtel to
go ahead with an investor presentation. It said that it would
inform the market on when the conditions had been met.
Airtel set its Nigerian listing price at 363 naira per
share, the bourse said, via a book building process which valued
the company at 1.364 trillion naira ($4.44 billion).
In May, Africa's biggest telecoms firm MTN MTNJ.J listed
its Nigerian unit MTNN.LG in Lagos in a $6.5 billion float
that made it the second-largest stock on the bourse by market
value. Nigerian stocks have been crimped over low growth in
Africa's biggest economy which has been further stymied with the
president's failure to appoint a cabinet four months after
winning a second term. Local stocks have fallen 6.8% this year
and shed 17.8% last year. The local bourse said Airtel shares registered in Britain
may be moved from the London market to Nigeria subject to
approval by the custodians in London and currency regulation in
Nigeria. But Airtel shares registered in Nigeria cannot be moved
to London, it said.