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Airtel eyes Nairobi IPO to meet local ownership limits
Businessman Naushad Merali (left) with Bharti Airtel CEO, international operations and joint managing director Manoj Kholi at a past function. Airtel plans to go public to help comply with local ownership regulations. File
Airtel Kenya plans to sell at least a 15 per cent stake to local shareholders through the Nairobi Securities Exchange (NSE) to meet the set local ownership limits.
India’s Bharti Airtel, which owns 95 per cent of the mobile phone operator, says the initial public offering (IPO) is best route to bring the company in full compliance with ownership regulations that require telcos to maintain at least 20 per cent local shareholding.
