Airtel Money targets $7 billion valuation for London IPO

Airtel Money, the mobile money subsidiary of Airtel Africa, is preparing for an initial public offering (IPO) on the London Stock Exchange, with a target valuation of approximately £5.3 billion ($7 billion).

The offering involves a secondary sale of up to 270 million shares by existing shareholders, expected to raise roughly $703 million. The International Finance Corporation (IFC) has agreed to participate as a cornerstone investor with an equity stake of up to $90 million. Other participating minority investors include TPG, Mastercard, the Qatar Investment Authority, and Chimetech Holding.

Airtel Money operates across 13 Sub-Saharan African markets and reported significant growth leading up to the listing. As of June 2026, the platform had approximately 56.5 million customers, with an annualized transaction processed value exceeding $245 billion. The company’s mobile money revenue rose to $1.355 billion for the fiscal year ended March 2026. The IPO aims to establish a public free float of approximately 16.5 percent, which would make the company eligible for inclusion in the FTSE UK indices.