Airtel Money, digital financial services of Airtel Africa, announced plans to pursue an initial public offering (IPO) on the London Stock Exchange. The proposed listing could value the African mobile money business at between USD 8 billion and USD 9 billion and become one of London's largest IPOs in recent years.
The company is targeting proceeds of at least USD 800 million from the offering. However, the proposed IPO will involve the sale of existing shares and not the issuance of new shares by Airtel Money.
This means Airtel Money itself will not receive fresh capital from the transaction. Existing shareholders will sell part of their holdings to public investors through the offering. The company plans to maintain a free float of at least 10% following the listing.
The proposed valuation range is below earlier market expectations. Reports had previously indicated that Airtel Money was considering a larger offering and a valuation of around USD 10 billion.
Airtel Money's proposed float comes at a time when London's IPO market experienced a prolonged period of weak activity. Reuters reported that the offering could rank among the biggest London listings in recent years, potentially giving the market a major African fintech deal.
A successful listing would also provide public-market investors with direct exposure to Africa's expanding digital payments sector. Airtel Money operates across several African markets, offering services like mobile payments and other digital financial products.
Airtel Money said it expects to provide further information on the proposed offer in early October. This is expected to include the indicative price range and the number of shares to be offered. Final pricing is expected in mid-October, subject to market conditions and the completion of the listing process.
According to reports, Airtel Money's latest quarterly performance has also highlighted the scale of its business. Revenue for the quarter ended June 2026 rose 38% to USD 399 million.
The proposed listing remains subject to regulatory approvals, market conditions and other customary requirements. Airtel Money's London debut will therefore depend on the completion of the IPO process and final investor demand.
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