IN BRIEF: Airtel Money says final total for IPO raise GBP530 million
Airtel Mobile Commerce NV - Amsterdam-based mobile money business of telecommunications provider Airtel Africa PLC - Airtel Mobile Commerce, known as Airtel Money, on Monday says its initial public offering in London last month raises a final total of GBP529.4 million. This follows the exercise of an over-allotment option by stabilising manager Citigroup Global Markets Ltd, under which Mastercard Asia/Pacific Pte Ltd sells 121,102 shares at the IPO price of GBP1.96, worth GBP237,360. All the shares sold in the IPO were by existing minority shareholders such as Mastercard Inc and Qatar Investment Authority. Airtel Africa, which is majority-owned by Bharti Airtel Ltd, didn't sell any shares and continues to own about 78% of Airtel Money. The IPO valued Airtel Money at GBP5.3 billion, making it the biggest float in London since 2021. Read More