Airtel Africa, a unit of Indian telecom operator Bharti Airtel Ltd, said on Monday it had appointed eight banks for an intended initial public offering (IPO) on an international stock exchange.
The company has appointed JP Morgan, Citigroup Inc, BofA Merrill Lynch, Absa Group Limited, Barclays Bank PLC, BNP Paribas, Goldman Sachs International and Standard Bank Group Ltd, it said.
This follows the recent subscription of shares in Airtel Africa by six leading global investors comprising of Warburg Pincus, Temasek, Singtel, SoftBank Group International and others for an aggregate consideration of USD 1.25 Billion. Earlier this month, Airtel Africa also announced its newly constituted Board of Directors that includes representatives from Bharti Airtel and the investors. The new Board of Directors brings a wealth of industry and governance experience to further drive the Airtel Africa business.
The financial performance of Airtel Africa continues to improve, having turned positive in terms of net profit and operating free cash flow. During the second quarter ending 30 September 2018, Airtel Africa’s revenues grew in constant currency by 10.8% Y-o-Y, led by growth in data and Airtel money transactions.
When they get onto the blue turf in Odisha’s newly spruced up Kalinga stadium on November 28 to launch campaign for the World Cup, hockey fans would hope that the men in blue will blow away the nat
Negotiations are on and the construction work for a grand Ram temple will start anytime in December.
India observes National Milk Day on Monday as a mark of respect to the Father of White Revolution and founder of the country’s mother dairy, Amul, Dr Verghese Kurien.
The government will allow banks to do bullion business — to hold, buy, sell, hedge and leverage gold. This will facilitate intervention of banks in developing bullion as an asset class.