Airtel Africa’s mobile payments firm is heading for a stock market valuation of around £5.3 billion when it floats this month in what would be one of the biggest London listings in recent years.
The group has set the offer price at £1.96 per share for its Airtel Money business with plans to make its stock market debut on October 14.
Airtel Africa, which is already listed on London’s FTSE 100 index, is looking to raise around 800 million US dollars (£601 million) from the initial public offering (IPO).
It wants Airtel Money to be listed separately on the London Stock Exchange which would give the market a shot in the arm after an IPO drought and a string of firms being bought or switching their listings abroad.
Conditional dealing of Airtel Money shares is set to begin on October 9, ahead of unconditional share dealing when the market opens on October 14.
