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Airtel Africa drops 12.5% in early trade after London debut

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Airtel Africa shares dropped as much as 12.5% in early trade on Friday after its London stock market debut, hitting a low of 70 pence ($0.89) after setting the price at 80 pence per share.

Airtel Africa, a unit of India’s Bharti Airtel Ltd., last week set a price range of 80 pence to 100 pence per share for its IPO, before pricing at the bottom of the range.

 

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