UK FCA nod for Airtel Africa's 'registration paper' for IPO

New Delhi: Airtel Africa, which is eyeing over $1 billion initial public offer in London, has received approval for its 'registration document' from the UK Financial Conduct Authority.

The 'registration document' outlines the general details about the company and post its approval by the Financial Conduct Authority (FCA), the company also has to file a separate draft prospectus to the FCA for approval. I

It is the prospectus which will contain details of the public offer including the number of shares, and issue price.

"Airtel Africa Ltd announces that a registration document relating to the company has received approval from the UK Financial Conduct Authority...," Airtel Africa said on its website. Sunil Mittal-led Bharti Airtel's Africa unit plans to launch over $1 billion (around Rs 6,970 crore) IPO in London to help reduce debt. The company is eyeing a June listing.