London [UK], October 1 (ANI): Airtel Money priced its London Stock Exchange IPO at GBP 1.96 per share, implying an estimated market capitalisation at Admission of GBP 5.3 billion or USD 7 billion.
Airtel Africa confirmed the valuation details following an initial notice on September 23, 2026, which outlined its plan for an initial public offering (IPO).
Airtel Mobile Commerce N.V. intended to secure listing for its ordinary shares in the commercial companies category of the Official List of the Financial Conduct Authority and to trade on the Main Market of the London Stock Exchange.
"Airtel Money intends to apply for admission of its ordinary shares to the equity shares (commercial companies) category of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange," the company stated. "Admission is currently expected to occur on 14 October 2026".
Existing shareholders in Airtel Money arranged to sell 270,000,000 existing shares in aggregate as part of the public transaction. Alongside this baseline tranche, the arrangement included provision for an additional sale of up to 27,000,000 existing shares under an over-allotment option.
The parent company affirmed its commitment to maintain its core investment throughout the market debut.
"Airtel Africa is not expected to sell existing Airtel Money shares in the Offer other than pursuant to the over-allotment option," it added. "Airtel Africa is expected to remain a long-term strategic shareholder and to support Airtel Money's next phase of development as an independently listed business".
Based on preliminary indications received from current shareholders, the company estimated that roughly 16.5 per cent of Airtel Money's issued ordinary share capital would sit in public hands under UK Listing Rule 5.5, assuming no exercise of the over-allotment option. This public float reached approximately 17.5 per cent in the event that buyers acquired the full over-allotment allotment.
"Airtel Money expects it would have a free float that would make it eligible for inclusion in the FTSE UK indices," the company stated.
Additional details in relation to the Offer are available in the Announcement and will be disclosed in the prospectus, which is expected to be published later today and will be available on Airtel Money's website subject to standard access restrictions. (ANI)
Airtel Money prices London Stock Exchange IPO at GBP 1.96 per share; Estimated market cap at Admission of GBP 5.3 billion
