Airtel shares rise 15% after Africa unit raises $1.25 billion
Six global investors, including Warburg Pincus, Temasek, Singtel and SoftBank, have agreed to invest $1.25 billion in Airtel Africa, Bharti Airtel said on Wednesday. Following the announcement, Airtel's shares rose as much as 15% during the day. Airtel Africa will use the proceeds from the primary equity issuance to bring down its debt of $5 billion and grow its business.