Airtel Money targets $800m London listing at up to $9bn valuation
Airtel Money, the African mobile payments arm of Airtel Africa, plans to float in London in one of the UK’s largest listings in years. It aims to raise about $800m at a valuation of $8bn-$9bn, potentially giving the struggling London Stock Exchange a significant boost.
The company has 53 million monthly active users across 13 sub-Saharan African countries and generated almost $1.4bn in revenue last financial year. Airtel Africa owns nearly 78% and will remain a long-term investor, while further IPO details are expected in October; the listing follows earlier delays caused by volatile market conditions.
- Airtel Money targets an $8bn-$9bn London valuation.
- The IPO could raise about $800m.
- The listing would support London’s struggling stock market.
Africa Art Asia Business Companies Culture Markets UK World
Read the full article at the source →
Originally published by The Guardian as “Indian billionaire’s payments firm plots biggest London flotation in years”.