Airtel Money, Airtel Africa’s mobile payments arm, began conditional dealings on the London Stock Exchange on Friday. The IPO values the fintech business at approximately £5.3 billion ($7 billion), making it London’s largest IPO in five years.
The offering was priced at £1.96 per share and consists of existing shares sold by minority investors. Parent company Airtel Africa is not selling any shares and will remain a long-term strategic shareholder. Unconditional trading on the LSE is expected to begin on October 14.