The rivals telecom giant, MTN, have started scrambling to list their shares on the Nigeria Stock Exchange (NSE).
The recent listing of MTN Nigeria is enticing and attracting others, including Airtel Nigeria, to join the stock market.
Airtel has indicated that it was giving this a thought and would soon unveil how to plans to go about it.
However, at the moment, the telecom wants to concentrate on its planned listing on the London Stock Exchange (LSE).
Airtel, the African subsidiary of India’s Bharti Airtel Ltd, said the main reason for its proposed London listing is to raise funds to help reduce debt and this would be done via an initial public offering.
In a filing yesterday, the company disclosed that it would create new shares and seek a free float of at least 25 per cent.
Those who have an idea of the details claimed the sale of shares to the public could raise about $1 billion for the GSM network provider.
Proceeds from the London listing, it was further gathered, would be used to expand data and mobile money services rendered by Airtel across Africa.
The firm looks to trade on the main market of the LSE, using its premium listing segment, which has more stringent rules than the European Union’s minimum requirements.
Airtel operates in 14 African markets including Democratic Republic of the Congo, Kenya, Nigeria, Rwanda, Seychelles, Uganda and Zambia.
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