Airtel Africa’s digital financial services subsidiary, Airtel Money, has announced plans to list on the London Stock Exchange (LSE), in a proposed offering that could become one of the largest new listings on the market in recent years.
The company said on Wednesday that it is seeking admission to the UK Financial Conduct Authority’s official list and permission to trade its ordinary shares on the LSE’s Main Market for listed securities.
The proposed initial public offering (IPO) will comprise entirely shares being sold by existing shareholders, meaning Airtel Money itself will not raise new capital from the transaction.
Following the listing, the company expects at least 10 percent of its shares to be in public hands. Airtel Africa, which currently owns 77.85 percent of Airtel Money, said it intends to remain a long-term strategic shareholder after the proposed flotation.
The shares will be offered to qualified institutional buyers in the United States and to retail investors in the United Kingdom through the RetailBook platform. Airtel Money said the final offer price is expected to be announced in mid-October, subject to the completion of the bookbuilding process.
The proposed listing comes as Airtel Money seeks to expand its digital financial services business across its African markets. The platform currently serves approximately 53 million monthly active users, according to the company.
Ian Ferrao, chief executive officer of Airtel Money, said the London listing would provide a platform for the company’s next phase of expansion, citing increasing digital transactions and opportunities to move more Airtel Africa telecom subscribers onto its financial services platform.
“Digital transaction volumes across our footprint are forecast to grow around fivefold by 2031,” Ferrao said, adding that the company plans to increase the use of its app and broaden the range of financial products available to customers.
He said Airtel Money was approaching the listing from a position of financial strength, describing the business as debt-free, capital-light and cash generative.
Reports ahead of Wednesday’s announcement had put the potential size of the offering at about $800 million, with the business seeking a valuation of between $8 billion and $9 billion. Reuters reported that a source close to the matter said the company could raise around $800 million at that valuation range.
The planned flotation follows a delay to Airtel Money’s earlier timetable. The company had initially targeted a London listing in the first half of 2026 but postponed the plan to the second half of the year amid unfavourable market conditions.
