Airtel Money targets $9bn IPO on London Stock Exchange

Airtel Money, the mobile‑payments division of Airtel Africa, announced plans to list on the London Stock Exchange with a target valuation of about $9 billion. The move, backed by Indian billionaire Sunil Bharti Mittal, represents one of the largest UK IPOs in recent years and is positioned as a catalyst for a market that has seen a decline in new listings.

The business, which provides mobile‑money services across more than a dozen African countries, will be floated as a separate entity despite being ultimately controlled by Mittal’s conglomerate. By seeking a London listing, Airtel Money aims to tap the depth of European capital while offering investors exposure to the fast‑growing African fintech sector. The proposal arrives as the London Stock Exchange grapples with a series of high‑profile departures and a shrinking pipeline of offerings, prompting calls for fresh, large‑scale listings to restore investor confidence.

If the offering proceeds as outlined, it could inject significant liquidity into the UK market and broaden the range of geographic exposure available to European investors. The timing of the IPO, expected later this year, will be closely watched as an indicator of whether the London market can attract sizable multinational tech‑finance ventures amid broader market headwinds.