Results of the IPO of Airtel Malawi plc

RNS Number : 9819C

Airtel Africa PLC

14 February 2020

 

Airtel Africa plc

Results of the Initial Public Offering of Airtel Malawi plc

London and Lagos, 14 February 2020: Airtel Africa plc a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, further to its announcement on 24 December 2019, today announces the results of the Initial Public Offering ("IPO") of its subsidiary Airtel Malawi plc on the main market of the Malawi Stock Exchange.

All ordinary shares offered in the IPO have been fully subscribed. The total number of offered shares amounted to 2,200,000,000, representing 20% of shares outstanding.

The price has been set at MK 12.69 (USD 0.02) per ordinary share resulting in gross proceeds of approximately MK 27.92 billion (USD 37.5m¹).  

¹TT-sell rate of MWK 745.00
 

Enquiries

Investor relations

Pier Falcione                                                                                                [phone] 

Anna Kaim                                                                                       

[e-mail]

Media relations

Kevin Soady, Kekst CNC                                                                           [phone]

Katherine Fennell, Kekst CNC

Michael Okwiri                                                                        

[e-mail]

About Airtel Africa

Airtel Africa (LSE: AAF; NSE: AIRTELAFRI) is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa. Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally. The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.

 

END

 

 

ROIGZGMZLFMGGZM