Airtel Money is planning a public offering in London worth approximately £529 million through the sale of 270 million shares at £1.96 apiece. Trading is scheduled to begin on October 14, according to reports on the proposed offering.
The issue is expected to value the digital financial-services business at around £5.3 billion. The proposed sale involves existing investors selling part of their holdings, making it an offer-for-sale transaction rather than a fresh capital raise for the company.
Airtel Money provides digital payment and financial services across several African markets. Its proposed London listing would give investors a route to gain exposure to the company’s mobile-money business as digital payments continue to expand across the region.
