Business · Markets · 2 days ago
Airtel Money makes London debut at £5.3 billion valuation
Airtel Money, a mobile payments business operating in 13 sub-Saharan African countries, began trading on the London Stock Exchange on Friday.
The offering valued the company at about £5.3 billion and raised about £529 million by allowing existing shareholders to sell shares.
The shares were offered at £1.96 each and briefly reached £2.00.
Reports differ on the closing price: some describe early conditional trading below the offer price, while another says the shares fell 6% by the end of the session.
Trading is initially limited to investors allocated shares, with open trading scheduled to begin on October 14.
The listing is London’s largest in five years and comes as the exchange seeks to attract more major company listings.
Airtel Africa and Mastercard may sell up to 27 million additional shares through an overallotment option.
Airtel Money began trading on the London Stock Exchange on 9 October 2026 in what was described as the City’s biggest listing in five years.
The share offer was priced at £1.96 and valued Airtel Money at about £5.3bn; it involved existing shareholders selling shares, so the company did not raise new money through the offer.
The shares briefly reached £2 in the opening hour, but later reports said they fell 6% to 184.26 pence and closed at that session low.
Expansión reported that demand for the offer was several times greater than the shares available, even as the shares ended their first day below the offer price.
The listing is being watched as a test of London’s efforts to attract companies to its stock market, following a period of weak IPO activity and companies moving or changing their listings.
- Who
- Airtel Money, officially Airtel Mobile Commerce, a subsidiary of Airtel Africa
- What
- A London stock market listing involving the sale of existing shareholders’ shares
- When
- 9 October 2026
- Where
- London Stock Exchange, London
- Why
- To list Airtel Money shares; the listing is also seen as a test of London’s ability to attract major IPOs
This story does not have two clearly opposing sides.
We see this listing as a beginning, not a destination.
This will be a key test for the London market, and hopes are high that this will revitalise London’s position as a hub for corporate listings.
investors are keen to back new listings if the investment case is compelling.
Airtel Money began trading at £1.96 per share, and the price briefly reached £2 in the opening hour.
Expansión reported that the shares fell 6% to 184.26 pence, their session low, and closed with a market capitalisation of £4.975bn.
The shares are expected to trade openly, according to the Independent.
- Offer price
- £1.96 per share
- Valuation at the offer
- About £5.3bn
- Shares sold
- 270 million, according to Expansión
- Proceeds from the sale
- About £529m, according to Expansión
- First-day closing price
- 184.26 pence, down 6%, according to Expansión
- Stock ticker
- AMC
Sources
Airtel Money makes London Stock Exchange debut with $7 billion valuation
Airtel Money cae un 6% en su debut en la Bolsa de Londres
Shares in 'Africa's Revolut' dip as biggest debut on London stock market for five years falls flat
Airtel Money IPO: London’s biggest listing in 5 years makes debut — Check how shares performed post-listing
Boost for London Stock Exchange as new firm launches biggest IPO in five years
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