Airtel plans IPO, to list on London Stock Exchange
Airtel Africa Announces IPO Plans for Mobile Money Subsidiary
LAGOS, Nigeria — Airtel Africa Plc has revealed plans for an Initial Public Offering (IPO) for its mobile money subsidiary, Airtel Mobile Commerce N.V., commonly known as Airtel Money. The company aims to secure a listing on the London Stock Exchange.
The announcement was made by Simon O’Hara, Airtel’s Group Company Secretary, in a notice released on the Nigerian Exchange Limited (NGX).
According to the statement, the IPO will involve the sale of existing Airtel Money shares held by current shareholders. Airtel Money will not issue new shares or raise additional capital through this offering.
The company stated that the IPO will consist solely of a secondary offering of shares, with no new capital being raised. Airtel Africa currently holds 77.85% of Airtel Money’s issued ordinary share capital. Following the listing, Airtel Africa expects to continue as a long-term strategic shareholder, supporting Airtel Money’s next phase of development as an independent entity.
The announcement includes details about Airtel Money’s operations, strategy, financial performance, and current trading outlook.
However, the statement cautioned that the transaction is subject to change. “Airtel Money may decide not to proceed, and there is no guarantee that a prospectus will be published, the IPO will be completed, or the shares will be admitted to trading,” it noted.
