Airtel Money London listing closes 6% below IPO price
Business
Airtel Money's big entrance on the London Stock Exchange didn't quite land: shares closed 6% lower than their IPO price, dropping to 184.2 pence and shrinking the company's value to about £5 billion.
The rocky start reflects how tough things are right now for UK markets, with global uncertainty and barely any new companies going public.
Companies delay London and European IPOs
Airtel Money's stumble isn't just its problem: it shows how hesitant companies are to go public in London and across Europe.
With unpredictable markets and concerns about interest rates, several companies are hitting pause on IPO plans, waiting for a steadier moment to make their move.