Airtel Money Sets £529 Million London IPO at £1.96 a Share
The mobile payments arm is seeking £529 million from existing shareholders, with 53 million monthly active users and a planned £5.3 billion valuation.
- Airtel Mobile Commerce is planning a London Stock Exchange IPO to raise $702 million, valuing the mobile payments provider at £5.3 billion with backing from Mastercard and the Qatar Investment Authority, potentially London's largest offering in five years.
- Operating across 13 African countries, Airtel Money, the mobile money arm of Airtel Africa, processed $213 billion in the twelve months through June, serving about 53 million monthly active users across branches and kiosks.
- Chief Executive Officer Ian Ferrao stated the company is prioritizing digital payments and transfers over cash-based services to improve margins. Ferrao pointed to "wealth tech," allowing customers to buy and sell shares on local stock exchanges, as an innovation area.
- Major financial institutions including Citigroup, Bank of America, Barclays, Goldman Sachs, and JPMorgan Chase are arranging the listing, which serves as a critical test for London's efforts to attract international IPOs following a period of low volumes.
- While financial services currently represent only 4% of the business, the company expects rapid growth in lending and insurance. Success could provide new impetus for London IPOs as other companies prepare for potential future listings.
24 Articles
24 Articles
Airtel Money Prices London Stock Exchange IPO at GBP 1.96 Per Share; Estimated Market Cap at Admission of GBP 5.3 Billion
Get latest articles and stories on Business at LatestLY. Airtel Money priced its London Stock Exchange IPO at GBP 1.96 per share, implying an estimated market capitalisation at Admission of GBP 5.3 billion or USD 7 billion. Business News | Airtel Money Prices London Stock Exchange IPO at GBP 1.96 Per Share; Estimated Market Cap at Admission of GBP 5.3 Billion.
Airtel Money set for £5.3bn valuation in London's biggest IPO in years
Airtel Money is set to float at a valuation of £5.3bn in what would be one of the biggest listings on the London Stock Exchange in recent years. The fintech arm of the telecommunications giant Airtel Africa said its investors would sell 270m shares at a price of £1.96 per share in the offer, which [...]
Evening Standard
Airtel Money heading for £5.3bn stock market debut after setting float price
The group is looking to raise around 800 million US dollars (£601 million) from the IPO.
Coverage Details
Bias Distribution
- 40% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
