2nd Oct 2026 11:42
(Alliance News) - Airtel Mobile Commerce NV, known as Airtel Money, on Friday launched the retail offer for its initial public offering, set to be the biggest IPO on the London Stock Exchange in five years.
The African arm of the mobile payments service is priced at GBP1.96 per share, implying an estimated market capitalisation of GBP5.3 billion, or USD7.0 billion, at admission.
Airtel Money said the retail offer is open to UK retail investors through RetailBook's network of participating brokers, wealth managers and investment platforms. The minimum application is GBP250.
Airtel Money said UK investors can participate through RetailBook's partner network, subject to individual intermediaries' participation. Applications may be made through Individual Savings Accounts, Self Invested Personal Pensions and General Investment Accounts where permitted.
The retail offer closes at 1700 on October 8, with results due on October 9 and unconditional dealings on the London Stock Exchange expected to commence on October 14.
Airtel Money said the retail offer forms part of its IPO alongside an offer of shares to certain institutional investors. The IPO consists entirely of existing shares sold by current shareholders, meaning Airtel Money will not raise new capital.
Airtel Africa PLC, which currently owns around 78% of Airtel Money, said when announcing the planned IPO last month that it expects to remain a long-term strategic shareholder following the flotation.
Chief Executive Officer Ian Ferrao then said: "We are approaching this from a position of financial strength. The business is debt-free, capital-light and highly cash generative, which is why this offer consists solely of shares sold by existing shareholders and no new capital is being raised."
Shares in Airtel Africa were up 2.2% to 311.20 pence per share on Friday morning in London.
By Niall Holden, Alliance News reporter
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