By Adria Calatayud 
 

Bharti Airtel Ltd.'s (532454.BY) Airtel Africa PLC on Monday set its London initial-public-offering price range at 80 pence to 100 pence a share, giving it a valuation of between 3.01 billion and 3.62 billion pounds ($3.79 billion-$4.56 billion).

Airtel Africa, the African unit of Indian telecommunications company Bharti Airtel, said it will offer 595.2 million to 744.0 million shares in its IPO, raising around GBP595 million.

The company is also seeking a listing on the Nigerian Stock Exchange, it said.

The company said it expects to disclose the final pricing of its U.K. listing around June 28, with conditional trading of its shares expected to start on the main market of the London Stock Exchange on the same day.

J.P. Morgan Securities PLC, BofA Merrill Lynch and Citigroup Inc. are among the advisors for the Airtel Africa IPO, the company said.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

June 17, 2019 02:44 ET (06:44 GMT)

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