Airtel Money to Launch £5.3 Billion London IPO

Airtel Money, the mobile payments subsidiary of Airtel Africa, will launch an initial public offering on the London Stock Exchange on October 14. The company has set an offer price of £1.96 per share and expects a market valuation of approximately £5.3 billion, marking the largest London listing since the 2021 flotation of Wise.

Airtel Money aims to raise around 800 million US dollars (£601 million) through the offering. Existing shareholders plan to sell 270 million shares, while the International Finance Corporation has committed to a cornerstone investment of up to £67.2 million. Airtel Africa intends to remain a long-term strategic shareholder in the venture.

The mobile payments firm serves 53 million users across Africa primarily through digital wallets and reported revenues of 1.4 billion US dollars (£1.1 billion) in the last financial year. Market observers view the listing as a significant boost for the London market following a period of limited IPO activity.