Airtel Money Completes London Stock Exchange IPO
Airtel Money has completed its initial public offering (IPO) on the London Stock Exchange today, at an initial market capitalisation of £5.3 billion and a final offer size of up to £582 million.
Launched in 2011 as the mobile money arm of Airtel Africa plc, the FTSE 100 telecoms group, Airtel Money is one of Africa’s largest mobile money and fintech platforms. Across 13 countries, 53 million customers use Airtel Money’s platform each month to store money, pay, get paid, and send money, all from their mobile phones.
The IPO comprised entirely of shares sold by existing investors and also included a UK retail offer, through RetailBook, with 8 million of the 270 million shares on offer allocated to UK retail investors.
International Finance Corporation acted as a cornerstone investor, purchasing £67.2 million of shares in the IPO. Books were reportedly covered, including the overallotment, on the first day of launch, highlighting strong investor demand for the transaction.
Airtel Money is the largest company to complete an IPO in London since 2021 (excl. dual listings) and is the 2nd largest IPO in Europe this year. #Airtel Money Completes London Stock Exchange IPO# London Listing: Airtel Money Sets £1.96 Per Share for IPO
