Airtel Money eyes London listing via secondary OFS
Airtel Africa is exploring the possibility of listing its financial services division, Airtel Money, on the London Stock Exchange. This secondary offer for sale could represent the largest listing in the UK since 2021. The International Finance Corporation plans to act as a cornerstone investor, providing existing shareholders a chance to exit during this process. The company seeks to engage both…
Airtel Africa, backed by Sunil Mittal, is considering listing its financial services arm, Airtel Money, on the London Stock Exchange through a secondary offer for sale (OFS). This could be the UK's largest such listing since 2021, according to filings with the London bourse. The proposed OFS aims to provide structured liquidity for pre-IPO investors, with minority shareholders including TPG, Mastercard, Qatar Investment Authority, and Chimetech Holding investing $550 million in the business in 2021.
International Finance Corporation (IFC), a part of the World Bank group, has been roped in as a cornerstone investor in the proposed OFS. The telco's Africa unit, Airtel Money, operates with zero external borrowings and only 3% of its revenue spent as capex as of FY26, giving it enough room to invest in growth directly from its balance sheet.
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