Airtel Money will file for a London IPO
Airtel Money will file for a London IPO that could raise about $800Mn and value the mobile money business at $8Bn–$9Bn, Reuters reports.
The offering will comprise existing shares, meaning no new capital will be raised by Airtel Money, and is expected to leave at least 10% of the company in public hands.
Airtel Africa currently owns about 78% and plans to remain a long-term investor. The indicative price range and number of shares are expected in early October, with final pricing in mid-October.
At $800Mn, the deal would be London’s largest IPO since 2021. Airtel Money reported quarterly revenue of £399Mn ($531Mn), up 38%, and about 53Mn monthly active users at the end of June.
-Kenyan Wall Street
The offering will comprise existing shares, meaning no new capital will be raised by Airtel Money, and is expected to leave at least 10% of the company in public hands.
Airtel Africa currently owns about 78% and plans to remain a long-term investor. The indicative price range and number of shares are expected in early October, with final pricing in mid-October.
At $800Mn, the deal would be London’s largest IPO since 2021. Airtel Money reported quarterly revenue of £399Mn ($531Mn), up 38%, and about 53Mn monthly active users at the end of June.
-Kenyan Wall Street