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.
46 Articles
46 Articles
Airtel Africa’s mobile-money arm launches London IPO process with reported $8bn-$9bn valuation
Airtel Money may be among London's biggest initial public offerings in recent years, raising about $800mn from the offering, giving it a market capitalisation of between $8bn and $9bn.
Airtel plans IPO, to list on London Stock Exchange
Airtel Africa Plc, has announced that its mobile money subsidiary, Airtel Mobile Commerce N.V., known as Airtel Money, intends to proceed with an Initial Public Offering (IPO) and seek admission to trading on the London Stock Exchange. The announcement was made in a statement by Mr Simon O’Hara, Airtel’s Group Company Secretary, and released on […]
Airtel Money plans $9bn London flotation in boost for UK market
Airtel Money, the mobile money business of Africa-focused telecommunications group Airtel Africa, has confirmed plans to float on the Main Market of the London Stock Exchange in a potential boost… The post Airtel Money plans $9bn London flotation in boost for UK market appeared first on London Business News
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