Airtel Africa’s Airtel Money is expected to file paperwork for an initial public offering on the London Stock Exchange as soon as Wednesday, targeting a valuation of between $8 billion and $9 billion, the Financial Times reported on Tuesday, citing two people briefed on the plans.
The company is seeking to raise at least $800 million from investors through the proposed listing, according to the report.
Airtel Money is the mobile-money business of Airtel Africa, providing digital payments and financial services across several African markets. A London listing would mark a significant capital-markets move for the business as mobile-money services continue to expand across the continent.
Key Figures
Target valuation: $8 billion-$9 billion
Proposed fundraising: At least $800 million
Potential exchange: London Stock Exchange
Company: Airtel Money, Airtel Africa
Source of IPO report: Financial Times, citing two people briefed on the plans
Reuters status: Report not independently verified
Source: Reuters
Reporting: Sathvi G Bhat, Bengaluru
Editing: Shreya Biswas
