Airtel Money, the mobile payments arm of Airtel Africa, just announced it's heading for an IPO on the London Stock Exchange.
It's aiming to raise at least $800 million, making this the biggest UK IPO since 2021, even though it's less than the $1.5 billion to $2 billion it had hoped for previously.
Airtel Money processed $213B transactions
This move could help revive London's sluggish IPO scene and tap into investors who are keen on emerging markets.
Airtel Money is already a big deal across Africa, handling everything from bill payments to microloans.
In the 12 months through June, it processed $213 billion in transactions and has about 53 million monthly active users, mostly in East Africa but also strong in Nigeria and French-speaking Africa.
The timing lines up with new UK rules that make going public a bit easier.