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Airtel Africa drops 12.5% in early trade after London debut

Published 28/06/2019, 08:16
Airtel Africa drops 12.5% in early trade after London debut
BRTI
-

LONDON, June 28 (Reuters) - Airtel Africa AAF.L shares
dropped as much as 12.5% in early trade on Friday after its
London stock market debut, hitting a low of 70 pence ($0.89)
after earlier setting the price at 80 pence per share.
Airtel Africa, a unit of India's Bharti Airtel Ltd
BRTI.NS , last week set a price range of 80 to 100 pence per
share for its IPO, before pricing at the bottom of the range.
The final offer comprised 744,047,619 new shares, setting
the deal size at 595 million pounds ($754.3 million) and the
initial market capitalisation at about 3.1 billion pounds at
issue, the company said.


($1 = 0.7888 pounds)

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