Airtel Mobile Commerce N.V., the mobile money business operating as Airtel Money, began trading on the London Stock Exchange’s Main Market today at 8:00 a.m. under the ticker “AMC”.
The company’s entire issued ordinary share capital of 2,700,000,000 shares was admitted to the equity shares (commercial companies) category of the FCA’s Official List. Trading is unconditional. The listing follows the company’s 9 October announcement of its initial public offering.
Each share carries one vote at general meetings, so the total number of voting rights is 2,700,000,000. Shareholders can use this figure to work out whether they must notify their holdings under the FCA’s Disclosure Guidance and Transparency Rules.
Citi is sole sponsor, lead left global coordinator and joint bookrunner. Barclays, BofA Securities, Goldman Sachs and J.P. Morgan are joint global coordinators and joint bookrunners. Absa, BNP Paribas, Emirates NBD Capital, First Abu Dhabi Bank, Jefferies and Standard Bank are also joint bookrunners, and BTIG is co-bookrunner. RetailBook coordinated the retail offer.
Citi, as stabilising manager, may over-allot shares up to 10 per cent of those in the offer and take other steps to support the share price for up to 30 days after conditional dealings began. It holds an over-allotment option from certain shareholders covering up to 10 per cent of the offer shares at the offer price. Stabilisation is not guaranteed and may stop at any time.
The company said investors should rely only on the FCA-approved prospectus, available at ipo.airtelmoney.com subject to access restrictions. Share prices can fall as well as rise.