Airtel Africa PLC Intention to List Airtel Malawi plc on MSE (5034W)
11 Diciembre 2019 - 2:40AM
UK Regulatory
TIDMAAF
RNS Number : 5034W
Airtel Africa PLC
11 December 2019
Airtel Africa plc
Announcement of Intention to list Airtel Malawi plc
on the Malawi Stock Exchange
London and Lagos, 11 December 2019: Airtel Africa plc ("Airtel
Africa" or "Group"), a leading provider of telecommunications and
mobile money services, with a presence in 14 countries across
Africa, today announced the intention to undertake an initial
public offering (the "Offer") of its local business, Airtel Malawi
plc (the "Subsidiary").
Airtel Malawi plc intends to apply for admission of its ordinary
shares ("Shares") to trading on the main market of Malawi Stock
Exchange ("MSE"). The indicative price range in respect of the
Offer, as well as the exact number of Shares to be sold in the
Offer, will be determined in due course. The Subsidiary will offer
its shares for sale subject to relevant regulatory approvals and
market conditions.
This listing will enable the Subsidiary to comply with Section
35 of the Communications Act of 2016, Regulation 26 (2) of the
Communications (Telecommunications and Broadcasting Licensing)
Regulations of 2016 and Clause 42.2 of the Subsidiary's operating
license, which requires the Company to have at least 20% local
Malawian shareholding.
Airtel Africa, the second largest mobile operator in Africa by
number of active subscribers, offers an integrated suite of
telecommunications solutions to its subscribers, including mobile
voice and data services as well as mobile money services both
nationally and internationally. The Group continuously invests in
expanding its network footprint and number of 4G sites to enhance
network capabilities and support its future business growth,
offering traditional mobile voice services, with an increasing
focus on data and mobile money. Airtel Africa is well positioned to
capture growth opportunities presented by promising underlying
macroeconomic and demographic trends in a fast-growing region that
is vastly underpenetrated in terms of mobile and banking services.
The Group's footprint is characterized by low but increasing levels
of mobile connectivity, with a unique user penetration at 44%,
highlighting the potential for growth across its footprint.
The Subsidiary has engaged Standard Bank (Malawi) Plc to act as
Book runner and as Lead Transaction Advisor to the company.
Enquiries
Investor relations
Pier Falcione +44 20 7493 9315
Anna Kaim
Investor.relations@africa.airtel.com
Media relations
Kevin Soady, Kekst CNC +44 20 3755 1600
Katherine Fennell, Kekst CNC
Michael Okwiri
Michael.Okwiri@africa.airtel.com
About Airtel Africa
Airtel Africa (LSE: AAF; NSE: AIRTELAFRI) is a leading provider
of telecommunications and mobile money services, with a presence in
14 countries in Africa, primarily in East Africa and Central and
West Africa. Airtel Africa offers an integrated suite of
telecommunications solutions to its subscribers, including mobile
voice and data services as well as mobile money services both
nationally and internationally. The Group aims to continue
providing a simple and intuitive customer experience through
streamlined customer journeys.
About Airtel Malawi
Airtel Malawi is the country's leading mobile service provider
offering 4G /LTE, 2G and 3G wireless networks; and high speed fixed
broadband internet services. Airtel Malawi's affiliate Airtel
Mobile Commerce Limited offers one of the largest mobile commerce
service in the country through Airtel Money which was launched in
Malawi in February 2011.
Airtel Malawi was established in Malawi in 2010 as a subsidiary
of Airtel Africa.
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END
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December 11, 2019 03:40 ET (08:40 GMT)
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