In Brief: Airtel Africa appoints JPMorgan and 7 other banks for IPO

Airtel Africa, a subsidiary of Bharti Airtel, a global telecommunications company with operations in 18 countries across Asia and Africa, yesterday announced the appointment of 8 banks for an intended IPO on an international stock exchange.

The banks appointed are J.P. Morgan, Citigroup, BofA Merrill Lynch, Absa Group Limited, Barclays Bank PLC, BNP Paribas, Goldman Sachs International and Standard Bank Group.

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.

Source: Press Release [PDF].

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