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12-10-2026
By Nixon Kanali | Channel: tech
| Tags: Africa
Fintech
ICT
Tech
Airtel Money starts trading in London after £582m IPO
Airtel Money has started trading on the London Stock Exchange after its initial public offering (IPO). The deal values the mobile money business at £5.3 billion, about US$7.0 billion.
Conditional dealings in the shares of Airtel Mobile Commerce N.V., Airtel Money’s holding company, began at 8:00 a.m. London time on 9 October 2026 under the ticker AMC. Formal admission to the Main Market and the start of unconditional dealings are expected at 8:00 a.m. on 14 October 2026.
The company set the offer price at £1.96 per share on 1 October. If the over-allotment option is exercised in full, the final offer comes to £582 million, about 11% of the company’s share capital at admission.
“Today is a landmark moment for Airtel Money. Our listing in London marks an important new chapter for our business and reflects what we have built across Africa and the significant opportunity ahead,” said Ian Ferrao, Chief Executive Officer of Airtel Money.
“Airtel Money has grown by solving a very real need: making financial services simpler and more accessible for millions of people across the continent. The strong support we have received from investors is a vote of confidence in our business model, strategy and the long-term growth potential of African economies.”
Offer structure
The offer consists of 270 million existing shares sold by the company’s minority shareholders, so the IPO raises no new capital for the company itself. Mastercard Asia/Pacific is making up to a further 27 million shares available through an over-allotment option. Once admitted, the company will have 2.7 billion shares in issue.
The International Finance Corporation (IFC) has been allocated 34,285,714 shares worth £67.2 million. That is its full commitment as a cornerstone investor.
The shares were offered to qualified institutional buyers in the United States and to institutional investors in the United Kingdom and other markets. Retail investors in the UK were allocated 8 million shares through RetailBook’s network of investment platforms, brokers and wealth managers.
The company, its directors and the selling shareholders are subject to lock-up arrangements that limit share sales after the listing. The company and selling shareholders face a 180-day lock-up, and directors a 365-day lock-up.
Ferrao thanked the governments and central banks in Airtel Money’s markets for their commitment to financial inclusion. He said the listing is “a beginning, not a destination”.
“As a listed company, we will remain focused on building Africa’s leading digital financial services platform, connecting more people and businesses to the formal financial system and helping accelerate the continent’s transition towards a more inclusive, digitally connected economy,” he said.
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