Airtel Money seeks Middle East tie-ups and is open to future dual listing in UAE
Airtel Money is seeking to form partnerships with FinTech companies in the Middle East to grow its Africa business and is open to potential dual listing in the UAE, its chief executive has said. The primary objective for the payments company, which last week announced its intention to float on the London Stock Exchange, is to “finish the listing process” in London , Ian Ferrao told The National…
Airtel Money, the mobile money arm of Airtel Africa, is exploring partnerships with FinTech companies in the Middle East in order to expand its African operations, according to its CEO Ian Ferrao. The company is also open to the possibility of dual listing on the UAE stock exchange in the future. The primary focus for Airtel Money, which is planning to float on the London Stock Exchange, is to complete the London listing process once it is complete.
Ferrao noted that while the UAE could be a strategic "gateway" for the company's operations, the decision to not list in the region was a difficult one given its headquarters are in Dubai. The mobile payments company processed $213 billion in the twelve months to the end of June, and is expected to raise $800 million from its London IPO, which would result in a market capitalization of between $8 billion and $9 billion. The International Finance Corporation has committed to buy $90 million of the shares being offered.
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- Airtel Money seeks Middle East tie-ups and is open to future dual listing in UAE thenationalnews.com
