The company is also considering a separate listing on the Nigerian Stock Exchange. Bharti Airtel announced more than a year ago the plan to list its African business to reduce the group's net debt. It selected bookrunners in September, raised $1.25 billion in a pre-IPO with six investors in October, followed by another round of pre-IPO in January which raised $200 million. "With the recent equity investments into the business by globally recognised long-term investors, we believe that Airtel Africa is in a strong position to build its own capital market profile, allowing others to join us in a real business success story. The new Board of Directors is committed to carry forward the strong legacy of corporate governance of the parent company," commented Sunil Bharti Mittal, chairman of Airtel Africa.