Airtel Money Plans UK IPO That May Rank as Biggest in Five Years
Airtel Mobile Commerce NV is looking to raise £529 million ($702 million) for its shareholders in what could be London’s biggest initial public offering in five years.
Bharti Airtel International plans to launch a £529 million IPO for its mobile payments company, Airtel Money, which could be one of the largest initial public offerings in London in five years. The offering, set to commence on October 9, will see the company raise £1.96 per share from existing investors such as the Qatar Investment Authority and Mastercard, as well as an additional 27 million shares through an over-allotment option.
Post-IPO, Airtel Money is expected to have a market value of £5.3 billion and may gain inclusion in FTSE UK indexes. The company, which operates across Africa, processes $213 billion annually and has 53 million monthly active users. A successful IPO could boost London's stock market after a decline in IPO volumes during the pandemic and test the city's ability to attract international listings.
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