Airtel Money is preparing to proceed with an initial public offering (IPO) on the London Stock Exchange, with details of the indicative share price range and number of shares expected to be announced in early October.
The mobile money business, which is majority-owned by Airtel Africa, plans to list on the Main Market of the London Stock Exchange through a secondary offering of existing shares. No new capital will be raised by Airtel Money through the transaction. (London South East)
The company said final pricing is expected to take place in mid-October, subject to market conditions and the completion of the IPO process.
Airtel Money is targeting a valuation of between $8 billion and $9 billion, while the offering is expected to raise at least $800 million, according to reports. The company is expected to have a free float of at least 10 per cent following the listing. (London South East)
Existing shareholders to sell shares
The planned listing will involve existing shareholders selling part of their holdings rather than Airtel Money issuing new shares.
Airtel Africa currently owns 77.85 per cent of Airtel Money and intends to remain a long-term strategic shareholder after the listing. Other shareholders include TPG, Mastercard, the Qatar Investment Authority and Chimetech Holding. (London South East)
The International Finance Corporation (IFC) has also agreed to purchase up to £67.2 million ($90 million) worth of shares at the final offer price under a cornerstone investment agreement. (London South East)
Airtel Money targets continued growth
Airtel Money Chief Executive Officer Ian Ferrao said the London listing would support the company’s expansion plans.
“A London listing will underpin our next wave of growth,” Ferrao said, adding that the company intends to use Airtel Africa’s large customer base to expand the use of its payment solutions and other financial products. (London South East)
The business operates across 14 African markets and has continued to expand its digital financial services.
In its most recent quarter, Airtel Money reported revenue of £399 million ($531 million), representing a 38 per cent increase, while monthly active users reached about 53 million. (London South East)
The company also expects constant-currency revenue growth in the mid-20 per cent range for the financial year ending March 2027, with growth expected to accelerate thereafter.
London listing follows earlier delay
Airtel Money had initially planned to list during the first half of 2026 but postponed the IPO to the second half of the year, citing unfavourable market conditions. (London South East)
The proposed listing would come at a time when London’s IPO market has experienced relatively low activity. If completed at the reported size, the Airtel Money offering would rank among the largest London listings in recent years. (Business Standard)
The company is expected to provide investors with more information on the number of shares available and the indicative price range in early October, ahead of the expected final pricing later that month.
