- Africa-focused telecom and payments group Airtel Africa said an initial public offering of its Malawi unit has been priced at around $37.5m based on current exchange rates.

A fifth of the unit's outstanding shares would be sold in the initial public offering on the Malawi Stock Exchange.

The price has been set at MK 12.69 per share, resulting in gross proceeds of about MK 27.92bn ($37.5m).

At 9:42am: [LON:AAF] Airtel Africa PLC share price was -0.65p at 74.8p

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