Airtel Africa Plans $2 Billion IPO for Mobile Money Business in London
Airtel eyes $2 billion London IPO of mobile money unit, says report
Business Standard
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Airtel Africa Plc is set to launch an initial public offering (IPO) for its mobile money unit, Airtel Money, aiming to raise between $1.5 billion and $2 billion. The listing, likely in London, could value the unit at up to $10 billion, marking it as one of the largest IPOs on a European exchange in recent years.
- 01Airtel Money's IPO could raise between $1.5 billion and $2 billion.
- 02The listing is expected to take place in London, valuing the unit at up to $10 billion.
- 03Airtel Money's revenue grew by 29.4% to $986 million last year.
- 04The company has over 52 million users, indicating significant growth.
- 05Airtel Africa is working with Citigroup and possibly other banks for the IPO.
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Airtel Africa Plc is preparing for an initial public offering (IPO) of its mobile money service, Airtel Money, with expectations to raise between $1.5 billion and $2 billion. The IPO is likely to take place in London, which has emerged as the preferred location, potentially valuing Airtel Money at up to $10 billion. This listing would rank among the largest IPOs on a European exchange in recent years. Airtel Money has seen substantial growth, with revenues increasing by 29.4% to $986 million last year and user numbers surpassing 52 million. The company is collaborating with Citigroup Inc. and may appoint additional banks for the offering. Airtel Africa, primarily owned by billionaire Sunil Mittal's Bharti Enterprises Ltd., operates in 14 countries and has been eyeing an IPO for Airtel Money for some time. The firm plans to report its full-year results on May 8.
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The successful IPO could provide Airtel Money with additional capital to expand its services, potentially improving access to financial services for millions in Africa.
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