Linklaters advises on the IPO of Airtel Africa on the premium segment of the London Stock Exchange and on the Nigerian Stock Exchange

Linklaters advised a syndicate of nine banks on the £600 million IPO of Airtel Africa plc (“Airtel Africa”), a leading telecommunications and mobile money services company, with a presence in 14 countries in Africa. Airtel Africa, with a market capitalisation of approximately £3 billion, is the first company to simultaneously IPO on the Premium segment of the London Stock Exchange and on the Nigerian Stock Exchange. Airtel Africa is indirectly controlled by Bharti Airtel, India’s largest mobile services company.

The IPO is a successful further stage in the development of the business and an endorsement of London as a listing venue for African companies looking to access international capital. Airtel Africa is the second company to list on both the London and Nigeria Stock Exchanges. The first was Seplat, which did a standard listed IPO in 2014 and on which Linklaters also advised. 

The Linklaters team was led by UK corporate partner John Lane and US partner Pam Shores.

Pam Shores commented,

“Over the years the firm has helped a succession of large African companies to re-domicile to the UK and list on the London Stock Exchange. It is great to see London maintaining its position as a preferred venue for African companies seeking international capital.”

Linklaters is an established international leader in the equity capital markets space, and ranked number one in Thomson Reuters: African ECM (number of IPOs) from May 2013 to May 2018.