Airtel Money sets share price at £1.96, eyes £5.3bn valuation

Airtel Mobile Commerce N.V. (Airtel Money), the mobile money branch of Airtel Africa, has set its IPO price at £1.96 per share. This suggests a market value of about £5.3 billion, which is around $7.0 billion, when it starts trading.

Airtel Africa shared this news on Thursday. They mentioned that Airtel Money plans to list its shares on the London Stock Exchange. The listing is expected to happen on 14 October.

This move follows Airtel Africa's announcement on 23 September about its plans for an IPO for Airtel Money. The service operates mobile money across many African countries.

In this offer, some current shareholders of Airtel Money may sell up to 270 million shares. Additionally, there is a chance to sell 27 million more shares if the over-allotment option is fully taken up.

Airtel Africa stated that it does not plan to sell its shares in Airtel Money during this offer, except under the over-allotment option.

The company will remain a “long-term strategic shareholder” in Airtel Money. They will support the business as it becomes an independent listed company.

Currently, about 16.5 percent of Airtel Money’s shares are expected to be owned publicly if the over-allotment option is not used. If the maximum number of extra shares is sold, public ownership could increase to around 17.5 percent, according to Airtel Africa.

Airtel Money believes this level of public ownership will allow it to be included in the FTSE UK indices.

The firm plans to apply to list its shares on the equity shares category of the UK Financial Conduct Authority's Official List. It also wants to trade on the London Stock Exchange’s Main Market.

Airtel Money noted that more details about the IPO offer will be in its prospectus. This will be available on Airtel Money’s IPO website, subject to certain access rules, on Thursday.

Airtel Africa has been looking to separate its mobile money business from its main telecom operations due to the financial unit's strong performance in recent years.

Airtel Money reported impressive results in 2025, with a turnover of $1.4 billion. This is over one-third more than what it made the previous year.

Airtel Africa is a major player in telecommunications and mobile money, operating in 14 countries across sub-Saharan Africa.

The company offers a mix of services to its customers. This includes mobile voice and data services, alongside mobile money services, both locally and internationally.