Deals
Asia's Rich From Massage Chair King to Telecom Tycoon Delay IPOs
- Billionaire Mittal is said to postpone Africa IPO by half year
- Asia has contributed some of world’s worst performers in 2018
This article is for subscribers only.
Tycoons ranging from an Indian telecom billionaire to Singapore’s king of massage chairs are delaying initial public offerings as a rout in emerging-market stocks deepens.
Billionaire Sunil Mittal’s Bharti Airtel Ltd. is postponing a planned listing of its $8 billion African wireless unit by about half a year, people with knowledge of the matter said. The firm was originally aiming to list the unit in London by March, according to the people. A Bharti representative said preparations are proceeding “as per plan and there is no change.”