Mobile Payments Firm Airtel Money Announces Plans for London IPO
Airtel Money has filed for a potential initial public offering in London, which could be one of the largest the City has seen in years — albeit smaller than previously expected.
Airtel Money, the African mobile payments business owned by Indian telecommunications giant Airtel Africa, has announced plans for a multi-billion dollar London Initial Public Offering (IPO). The company, which currently has over 50 million active customers across Africa, aims to raise as much as $800 million in investments. Airtel Money's CEO, Ian Ferrao, expressed optimism about the benefits of a London listing, stating that it will "underpin our next wave of growth" and capitalize on the significant demographic and digital opportunities in the markets the company serves.
Ferrao added that the IPO will provide a platform for Airtel Money to "continue transforming financial services across Africa and build value for our customers, partners, African governments, and shareholders."
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