Airtel Money, the mobile money division of Airtel Africa, has announced plans to pursue a public listing on the London Stock Exchange in what would represent one of the largest UK stock market debuts in recent years. The payments platform operates across 13 sub-Saharan African nations, including Uganda, Zambia, and the Democratic Republic of Congo, serving approximately 53 million monthly active users. The company generated revenues approaching $1.4 billion in its most recent financial year and achieved a 38 percent increase in quarterly revenues to £399 million in the quarter ending June 30.
Airtel Money is seeking to raise approximately $800 million through the initial public offering while targeting a valuation between $8 billion and $9 billion. The company operates an extensive network of physical branches and kiosks that provide customers with services including mobile money loading, cash withdrawals, and various financial services. Airtel Money is ultimately controlled through Indian conglomerate Bharti Enterprises, which is overseen by billionaire Sunil Bharti Mittal. Its parent company, Airtel Africa, is already traded on the FTSE 100 but has determined that a separate listing for Airtel Money would provide greater operational flexibility.
The company evaluated multiple international stock exchanges before selecting London, with leadership citing the capital market’s deep understanding of emerging market investments and African business dynamics. Airtel Africa currently holds just under 78 percent ownership of Airtel Money and intends to maintain a long-term investment position following the public listing. Additional minority stakeholders include TPG, Mastercard, the Qatar Investment Authority, and Chimetech Holding. The company originally targeted a listing in the first half of 2026 but delayed the timeline to the second half due to market volatility related to geopolitical tensions.
Airtel Money announced that additional flotation details, including indicative pricing and share quantity information, would be disclosed in early October, with final pricing expected later in the month. The potential listing represents a significant development for the London Stock Exchange, which has experienced recent departures and faced challenges in attracting major new listings. If successful, the offering could rank among the largest London debuts since the international payments company Wise completed its public listing in 2021 at a £8.75 billion valuation.
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