Airtel Money, the mobile money arm of Airtel Africa, is preparing to file for an initial public offering (IPO) on the London Stock Exchange, targeting a market valuation of $8 billion to $9 billion—potentially marking one of London’s largest stock listings in recent years.
📌 Key Details & Critical Numbers:
- Capital Target: Expected to raise around $800 million via a secondary offering of existing shares, which would make it London’s largest IPO since 2021.
- Valuation & Float: Aims for an $8B–$9B valuation with an expected free float of at least 10%.
- Financial Momentum: Reported a 38% YoY revenue surge to $399 million in the quarter ending June 30, driven by 53 million monthly active users across Sub-Saharan Africa.
- Timeline: Indicative price range and share count expected in early October, with final pricing scheduled for mid-October.
- Strong Backing: Parent company Airtel Africa (owning ~78%) will remain a long-term shareholder alongside major investors including TPG, Mastercard, Qatar Investment Authority, and Chimetech.
Selecting London over other global venues provides a vital vote of confidence for the UK stock market, underscoring its capacity to attract high-growth international fintech leaders.