Airtel Money begins conditional LSE trading at $7 billion valuation
Airtel Money, the digital financial services business operating across Africa, has begun conditional trading on the London Stock Exchange, landing a $7 billion valuation.
Shares are trading at £1.96 under the ticker AMC, with full trading expected to start October 14.
The IPO includes shares from minority investors and Mastercard Asia/Pacific and could raise up to £582 million if all options are exercised.
IFC invests £67.2m in Airtel Money
This move isn't just about big numbers, Airtel Money's CEO, Ian Ferrao, says it's a big step for digital finance in Africa, aiming to make financial services simpler and more accessible to millions of people across Africa.
The International Finance Corporation is backing the venture too, investing £67.2 million.
Founder Sunil Bharti Mittal also said London remained "an attractive destination for investment, supported by its stable business and policy environment," recalling Airtel Africa's earlier 2019 London listing.