Airtel Africa's Airtel Money Announces IPO Price at £1.96

Airtel Africa plc (AIRTELAFRI) has disclosed that Airtel Money, its mobile money subsidiary incorporated as Airtel Mobile Commerce N.V., has set its IPO offer price at £1.96 per ordinary share. At this price, Airtel Money's estimated market capitalisation at admission stands at £5.3 billion, equivalent to approximately US$7.0 billion.

The offer involves certain existing shareholders selling a total of 270,000,000 Airtel Money shares, with an over-allotment option permitting the sale of up to an additional 27,000,000 shares. Airtel Africa itself is not expected to sell shares in the offer except under that over-allotment option and intends to remain a long-term strategic shareholder in Airtel Money.

Based on the filing, approximately 16.5% of Airtel Money's issued ordinary share capital is expected to be held in public hands if the over-allotment option is not exercised, rising to approximately 17.5% if it is exercised in full. Airtel Money intends to apply for admission to the Official List of the FCA and to trading on the Main Market of the London Stock Exchange, with admission currently expected on 14 October 2026. The company also noted it expects its free float would make it eligible for inclusion in the FTSE UK indices.