New Delhi: Telecom major Bharti Airtel on Tuesday said its subsidiary Airtel Africa has sought approval from the UK Financial Conduct Authority for getting listed on the London Stock Exchange.
"Airtel Africa Ltd has announced its potential intention to undertake an initial public offering for listing its equity shares on London Stock Exchange and the expected publication of a registration document that has been submitted for approval to the UK Financial Conduct Authority," Bharti Airtel said in a regulatory filing.
Last year, the company had announced its plan to make an initial public offering (IPO) at an international stock exchange and use the proceeds for further reduction of debt.
According to industry sources, the IPO could raise around $1 billion.
In November 2018, Airtel Africa had raised $1.25 billion through primary equity issuance to six global investors.