Airtel Africa Cuts Airtel Money IPO Target to $800 Million

Airtel Africa Plc is considering a significant reduction in the target size for the initial public offering of its payments subsidiary, Airtel Money. The company now seeks to raise at least $800 million in London, a sharp decrease from the $1.5 billion to $2 billion target reported in April.

Airtel Money Limited provides money transfer and payment services. The listing process for the subsidiary could begin as early as next week.