9th Oct 2026 09:19
(Alliance News) - Airtel Africa PLC's mobile money business, Amsterdam-based Airtel Mobile Commerce NV on Friday started trading on London's Main Market.
Conditional dealings commenced on Friday, with admission to the Financial Conduct Authority's Official List and unconditional dealings expected to begin on Wednesday.
The initial public offering was priced at 196 pence per share, implying a market capitalisation of GBP5.3 billion.
Shares in the company, known as Airtel Money, traded at 195.10p on Friday morning, down 0.5% from the IPO price. Shares did trade as high as 200.05p shortly before the opening bell, however.
Airtel Africa shares fell 3.9% to 297.60p.
Airtel Africa said: "Airtel Africa is not selling existing Airtel Money shares in the offer and is expected to remain a long-term strategic shareholder and to support Airtel Money's next phase of development as an independently listed business."
It is London's largest listing since Wise Group PLC, which started trading in London in July 2021 with a market cap of around GBP8 billion.
Only investors allocated shares in the offering will be able to participate in conditional dealings.
Airtel Money Chief Executive Officer Ian Ferrao said: "Today is a landmark moment for Airtel Money. Our listing in London marks an important new chapter for our business and reflects what we have built across Africa and the significant opportunity ahead."
He added: "We are incredibly proud of what we have achieved, but we see this listing as a beginning, not a destination. As a listed company, we will remain focused on building Africa's leading digital financial services platform, connecting more people and businesses to the formal financial system and helping accelerate the continent's transition towards a more inclusive, digitally connected economy."
By Tom Budszus, Alliance News slot editor
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Related Shares:
Airtel Mob (wi)Airtel AfricaWise Group