Airtel Mobile Commerce N.V. (Airtel Money) has set the offer price for its initial public offering at £1.96 per share, valuing the company at about £5.3 billion (roughly US$7.0 billion) at Admission. The prospectus is expected to be published later today.
Airtel Money plans to list on the London Stock Exchange’s Main Market, with conditional trading expected to begin by 9 October 2026. Admission and unconditional dealings are expected at 8:00 am (London time) on 14 October 2026.
Existing shareholders will sell 270 million shares, with up to 27 million more available through an over-allotment option. Airtel Africa will not sell shares in the offer, other than through the over-allotment option, and will remain a long-term strategic shareholder. The International Finance Corporation has committed to buy up to £67.2 million (about US$90 million) of shares as a cornerstone investor.
About 16.5% of the company’s shares are expected to be in public hands, rising to about 17.5% if the over-allotment option is fully exercised. Airtel Money expects its free float to make it eligible for the FTSE UK indices.
Institutional investors have until 2:00 pm (London time) on 8 October 2026 to submit indications of interest. A retail offer for UK-based investors will run through RetailBook’s partner network, with a minimum application of £250, closing at 5:00 pm (London time) on 8 October 2026.
The company has agreed to a 180-day lock-up from Admission, its directors to 365 days, and existing shareholders to 180 days.
Citigroup Global Markets Limited is Sole Sponsor, Lead Left Global Coordinator and Joint Bookrunner. Barclays, Merrill Lynch International, Goldman Sachs Bank Europe SE and J.P. Morgan are Joint Global Coordinators and Joint Bookrunners.