Airtel Money Kicks Off £5.3 Billion London IPO
Conditional trading began as the fintech targets a £5.3 billion valuation, giving the London market its biggest IPO in five years.
- African mobile payments firm Airtel Money began trading on the London Stock Exchange on Friday with a £5.3 billion valuation, marking the largest initial public offering in five years.
- Spun off from FTSE 100 firm Airtel Africa, the business operates across 14 nations in Africa and serves around 53 million people with digital financial services through branches and kiosks.
- The firm generated revenues of £1.1 billion in the last financial year, while existing shareholders sold shares worth £582 million with Finance Corp committing to purchase shares through a cornerstone investment.
- Wealth Club strategist Susannah Streeter called the IPO a "much-needed win for the London market," noting the listing provides a boost to the London Stock Exchange amid a dearth of new listings.
- Following Friday's conditional trading where shares closed near their opening price, unconditional dealings begin next week—the real test for whether investors will back Airtel Money's growth story and restore confidence in London as a global listing destination.
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Sunil Bharti Mittal is prowling for big kill on his African safari
Airtel Moneys London listing has put a roughly $7 billion valuation on Sunil Bharti Mittals African fintech bet, highlighting how far the business has moved beyond basic mobile wallets. With more than 54 million customers and growing revenues, the next challenge is to deepen usage across payments, remittances, credit, savings and insurance, turning Airtel Africas telecom reach into a broader financial-services platform.
Airtel Money's London flotation puts its payments business in focus
Airtel Money began conditional trading in London on October 9, bringing an African mobile-payments business to the stock market at an offer price implying a valuation of £5.3 billion. The price of £1.96 per share was announced on October 1. PA reporting on the debut confirms conditional dealings began on Friday. Full admission and unconditional ...
Airtel Money makes LSE debut, marking exchange's largest IPO in years
African digital financial services platform, Airtel Money, has successfully debuted on the London Stock Exchange, marking the exchange's largest initial public offering (IPO) in several years with an implied market capitalisation of about USD 7 billion.
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