Airtel Africa to price London listing at bottom of range

Airtel Africa Ltd's planned initial public offering on the London Stock Exchange is expected to price at 80 pence, the bottom end of its indicated price range, one of the bookrunners handling the sale said.

Airtel Africa, a unit of India's Bharti Airtel Ltd, last week set a price range of 80 to 100 pence per share for its IPO, which is expected to raise 595 million pounds from the issuance of 595.2 million to 744 million new shares.

The bookrunner, which said on Monday it had received indications of interest worth about $200 million from pre-IPO investors, said it had further investor orders of $100 million.