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Airtel Africa shareholder to sell stake worth over GBP40 million

Tue, 13th Apr 2021 20:35

(Alliance News) - An Airtel Africa PLC shareholder plans to sell 50 million shares in the telecommunications company, JP Morgan Securities PLC said on Tuesday.

The unnamed institutional seller appointed the investment bank to sell the shares, which amount to a roughly 1.3% stake in the FTSE 250 listed firm.

At current market prices, 50 million Airtel shares would fetch GBP42.4 million in total.

Airtel shares closed up 0.8% at 84.80 pence each in London on Tuesday.

"The price per placing share will be determined through an accelerated bookbuild process," JPMorgan Securities said.

By Eric Cunha; ericcunha@alliancenews.com

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