Airtel plans to float more shares on the Lusaka Stock Exchange in a bid to increase its public shareholding. Listed companies in Zambia are required to have a public shareholding of 25%, but Airtel only has 3.6%. Airtel is in this peculiar situation because about 2,000 minority shareholders in its predecessor, Zain Zambia, refused to accept a mandatory offer when Zain was bought by Bharti Airtel in 2011. Airtel has already started the process of de-materialising shares held by Bharti Airtel in order to be “issuing more shares this year”, its chairlady Monica Musonda stated.