Airtel Africa emphatically stated preparations for an IPO are proceeding as planned, following reports of a potential delay.

Bloomberg this week reported the IPO was being delayed due to “turmoil in emerging markets stocks”. The report cited “people with knowledge of the matter”.

The Bharti Airtel subsidiary last week raised $1.25 billion in a funding round, with SoftBank and Singtel among the backers. The deal enabled it to cut debt and increase its ability to invest in its networks, ahead of the IPO.

In the original report, Bloomberg said the IPO had been pushed back by “about half a year”. But, in a statement to the stock exchange, Airtel Africa said it “remains very confident about the IPO process”, with preparations “proceeding as per plan”.