Airtel Money announces at least $800 million IPO on LSE
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.