Airtel Money lists on LSE at £5.3bn valuation

Airtel Money, the digital financial services arm of Airtel Africa, has started trading on the London Stock Exchange with a market capitalisation of around £5.3 billion. The company's shares began conditional dealings on the exchange's Main Market under the ticker AMC on October 9 and will start formal unconditional trading from October 14.

The initial public offering attracted significant demand, with several times the number of shares available being sought after by investors. According to The Indian Express, 270 million existing shares were sold by minority shareholders, with Airtel Africa holding nearly 78% of Airtel Money before the IPO.

On its first day of trading, Airtel Money's shares fell by 6% to 184.26 pence, a session low, resulting in a market capitalisation of £4.975 billion, as reported by Expansion ES. The company's listing provides a public-market route into Airtel Money, which aims to make financial services more accessible to millions of people across African markets.

Brief written by urgent.news from Punch, Punch Nigeria, The Indian Express, Expansion ES, City AM — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.