Airtel Money targets $9bn London listing in boost for UK stock market
The mobile money arm of Airtel Africa, controlled by Indian billionaire Sunil Bharti Mittal, has announced plans for one of the largest London flotations in years.
Airtel Money, the mobile money arm of Airtel Africa and ultimately controlled by Indian billionaire Sunil Bharti Mittal, has announced its intention to list on the London Stock Exchange in what would be one of the largest UK listings in years.
The payments business, which operates across Africa, is reportedly targeting a valuation in the region of $9 billion for the initial public offering. The planned float comes as a boost for London's stock market, which has faced a string of recent company departures and has been described as struggling to attract major new listings.
If completed, the IPO would rank among the biggest flotations London has seen in recent years, offering a test of investor appetite for African payments and fintech businesses on a major Western exchange.
Sources
- Indian billionaire’s payments firm plots biggest London flotation in years — The Guardian — World
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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