Business · Markets · 2 days ago
Airtel Money begins London trading after raising about $703 million
Airtel Money, an African mobile payments business spun off from telecom company Airtel Africa, began trading in London on Friday.
Its IPO raised about $703 million by selling shares held by existing shareholders, rather than raising money for the company itself.
The offer price valued Airtel Money at about $7 billion, or £5.3 billion.
Shares briefly traded at £2, above the £1.96 offer price, before easing back; the reports differ on the exact later price.
Airtel Money provides payments and other financial services, including bill payments and cash withdrawals, and has about 53 million monthly active users.
It operates across sub-Saharan Africa, though the reports give different figures for the number of countries it serves.
Airtel Africa is expected to remain the majority shareholder and support the business as an independently listed company.
Conditional trading began on Friday, and unconditional share dealing is expected to start on October 14.
Airtel Money raised about $703 million in a London IPO through the sale of 270 million shares by existing shareholders.
The offer was priced at £1.96 per share, valuing the company at £5.3 billion, or about $7 billion.
Conditional trading began on Friday, October 9, with the shares reaching £2 before trading eased.
The company, spun off from Airtel Africa, provides mobile money services across sub-Saharan Africa.
Sources differ on its reach, reporting operations in 13 or 14 African countries.
- Who
- Airtel Money, an African mobile payments business spun off from Airtel Africa.
- What
- It raised about $703 million in a London IPO through existing shareholders selling shares.
- When
- Conditional trading began on Friday, October 9, 2026. Unconditional trading is expected to begin on October 14.
- Where
- London.
- Why
- The listing gives investors direct exposure to Airtel Money and supports its next phase as an independently listed business.
This story does not have two clearly opposing sides.
vote of confidence in the UK as an attractive global destination for investment
Today is a landmark moment for Airtel Money.
Airtel Money has a compelling growth story, operating across 14 nations in Africa, a continent which has been at the forefront of digital payments technology.
Conditional trading in Airtel Money shares began in London.
Shares reached £2 from the £1.96 offer price before later easing.
Unconditional share dealing is expected to begin.
- IPO proceeds
- About $703 million
- Shares sold
- 270 million
- Offer price
- £1.96 per share
- IPO valuation
- £5.3 billion, or about $7 billion
- Over-allotment option
- Up to 27 million additional shares
- Monthly active users
- About 53 million
Sources
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