Airtel Africa's mobile money arm to file for delayed London IPO
The mobile payments firm aims for one of London’s largest listings in years as it seeks to separate from Airtel Africa.
- On Wednesday, Airtel Money, the mobile payments arm of Airtel Africa, announced plans for a London IPO to separate the subsidiary from its parent, part of Indian conglomerate Bharti Enterprises.
- Management delayed the original first-half listing until the second half, citing unfavourable market conditions caused by the US-Israeli conflict regarding Iran.
- Serving around 53 million people across Africa, the firm generated revenues of around $1.4 billion in the last financial year through branches and kiosks.
- The Financial Times reported that Airtel Money targets a valuation between $8 billion and $9 billion, aiming to raise at least $800 million from investors.
- Airtel Africa will disclose indicative price ranges and share counts in early October, providing a rare boost to the City amid a prolonged slowdown in London listings.
17 Articles
17 Articles
Airtel Money confirms plans for multi-billion London IPO
Airtel Money has confirmed plans for a London IPO in what would mark one of the London Stock Exchange’s biggest flotations in years. The African mobile payments business, which is controlled by Indian-owned telecoms group Airtel Africa, is reportedly seeking a valuation at as high as $9bn (£6.8bn). The fintech, which operates via branches and [...]
Airtel Africa's mobile money arm to file for delayed London IPO
Airtel Money, the mobile money arm of Airtel Africa , intends to file for an initial public offering in London, it said on Wednesday, marking a potential turning point for a market that has faced a prolonged slowdown in new listings.
African Fintech Giant Airtel Money Plans London IPO
Airtel Money, a scaled digital financial services platform operating across 13 African markets, today announces its intention to undertake an initial public offering and the admission of its ordinary shares to the equity shares category of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange, as [...]
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