Airtel Mobile Commerce N.V., the mobile money business operated under the Airtel Money brand, has opened its UK retail offer ahead of a planned listing on the London Stock Exchange, placing one of Africa’s major digital financial services businesses before international public-market investors.
The offer price has been set at £1.96 per share, implying an estimated market capitalisation of £5.3 billion (about US$7 billion) when the company is admitted to trading. Airtel Money expects its shares to begin unconditional dealings on the London Stock Exchange’s Main Market at 8am on 14 October, following expected conditional trading from 9 October.
The retail offer is open only to investors who are resident and physically present in the UK, through participating investment platforms, brokers and wealth managers. The minimum application is £250, with applications due by 5pm London time on 8 October.
Under the transaction, existing shareholders are expected to sell 270 million shares, with a further 27 million potentially available through an over-allotment option. Airtel Africa is not expected to sell shares other than through that option and intends to remain a long-term strategic shareholder. The International Finance Corporation has committed to purchase up to £67.2 million of shares as a cornerstone investor.
The listing represents a significant development in the international capital-market profile of African-built digital financial services. Airtel Africa operates across 14 African markets, where mobile money has become an important channel for payments and financial access alongside conventional banking.
