Airtel Money prices London IPO at £1.96 a share

Airtel Money has priced its planned London initial public offering at £1.96 a share, valuing the mobile payments business at £5.3 billion. The base offer comprises 270 million existing shares and is expected to raise about £529 million, with admission to the London Stock Exchange expected on October 14, 2026, according to the offer terms. The sale is by existing shareholders, rather than a new share issue by Airtel Money. Up to 27 million additional shares may be sold through an overallotment option, which would increase the offer size if exercised. The final sale size therefore remains subject to the option’s use. Airtel Africa, the listed telecommunications group that owns a majority stake in Airtel Money, says it does not expect to sell shares in the base offer. It intends to remain a long-term strategic shareholder and support the business as an independently listed company. Airtel Africa may sell shares through the overallotment option. Airtel Money expects about 16.5% of its issued shares to be held by the public after admission, rising to about 17.5% if the additional shares are sold.