Does Airtel Money mark the end of London’s listing drought? Not yet | Nils Pratley

Published 1w ago · Updated 5d ago

AI summary50s readPositive

Airtel Money's planned London debut provides a major test for the UK stock exchange's ability to attract large-scale international listings.

African mobile payments group Airtel Money has announced plans for an initial public offering in London that could value the business between eight billion and nine billion dollars. The flotation is expected to be one of the largest on the London Stock Exchange in years, offering a much-needed boost to the UK market. However, market commentators note that the offering may not signal a complete end to the capital's listing drought since the firm is already an existing subsidiary of FTSE one hundred constituent Airtel Africa.

Airtel Money operates its mobile payments business across thirteen African countries.
The initial public offering is seeking to raise at least eight hundred million dollars.
The firm is ultimately controlled by Indian billionaire Sunil Bharti Mittal through Bharti Enterprises.
Airtel Africa currently holds a seventy-eight percent stake in the payments processor.

By the numbers

$800Mcapital raised

$9Bvaluation

78%subsidiary stake

13African countries

Timeline

Sep 22Airtel Money launched plans for one of London's biggest initial public offerings in recent years.
Sep 23African payments firm Airtel Money formally detailed its debut on the London stock market.
Sep 24Analysts highlighted the upcoming flotation as a potential sign of a route back for London's market.

Why it matters

London has experienced a prolonged listings drought with few major initial public offerings, leading policymakers and market participants to seek ways to attract high-profile international companies to the exchange.

What outlets agree on

Outlets agree that Airtel Money has announced plans for a major initial public offering in London that represents one of the largest listings on the exchange in recent years.

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In this story

Airtel MoneyStock marketsAirtel AfricaLondon Stock ExchangeIPOsSunil Bharti MittalBharti EnterprisesCurrencies

Covered by 3 outlets

67% of the sources are Left

67%33%

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