Adani or Airtel trade news today- Ripples Advisory

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Adani Ports: Focus on buyback offer

The board of Adani Ports and Special Economic Zone will meet on Tuesday to consider a buyback proposal. The board will also recommend a final dividend, if any, for FY 2018-19. Shareholders will closely monitor the buyback size, quantum of shares to be bought back and, most importantly, the price. Besides, the mode of buyback — from the open market or through tender route on a proportionate basis — and promoters’ intention on the buyback will also be monitored.

Airtel Africa to raise $750 mn via IPO, eyes London listing

Telecom operator Bharti Airtel Ltd on Tuesday said its subsidiary Airtel Africa expects to raise at least USD 750 million (approx Rs 5,189 crore) through a public offer and subsequent listing on the London Stock Exchange.

“The offer is targeted to raise USD 750 million (plus primary greenshoe option of up to 15 percent) and will be used to reduce net debt,” Bharti Airtel said in a regulatory filing.

It added that Airtel Africa intends to proceed with an initial public offering for admission and listing of its shares on the main market of London Stock Exchange (premium segment).

Additionally, Airtel Africa is also considering listing its shares on the Nigerian Stock Exchange.

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