2 hrs ago
Airtel Money Prices £1.96 IPO at £5.3 Billion Valuation
Airtel Money is planning to sell shares on the London stock market.
Each share is priced at £1.96.
The price gives the whole company a value of £5.3 billion.
The sale will mainly raise money for people who already own shares.
Airtel Money helps people in Africa pay bills, get microloans and buy goods.
It said 53 million people used its service each month.
The company processed $213 billion over the year through June.
Investors will watch the listing to see whether London can attract more large international companies.
Airtel Money has priced its IPO at £1.96 per share, valuing the company at £5.3 billion.
The offering is expected to be the largest UK stock-market issue in five years.
The listing will raise funds for Airtel Money’s existing shareholders.
Airtel Money said it processed $213 billion in transactions in the 12 months through June and had about 53 million monthly active users.
The IPO will test London’s efforts to attract international listings after IPO activity declined following the pandemic-era boom.
- Who
- Airtel Money, its existing shareholders and the banks arranging the offering.
- What
- Airtel Money has priced a proposed IPO at £1.96 per share, valuing the company at £5.3 billion.
- Where
- The proposed shares will be listed in London, while Airtel Money operates across Africa.
- When
- The company reported transaction and user figures for the 12 months through June; the article does not specify the IPO date.
- Why
- The offering will raise funds for existing shareholders and test London’s ability to attract international IPOs.
Key facts
- IPO price
- £1.96 per share
- Company valuation
- £5.3 billion
- Transaction volume
- $213 billion in the 12 months through June
- Monthly active users
- About 53 million
- Services
- Utility-bill payments, microloans and goods purchases
- IPO market significance
- Expected to be the biggest UK issue in five years
- Exchange-rate note
- £1 = Rs 127.22
Sources
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