Indian billionaire’s payments firm plots biggest London flotation in years
Summary
Airtel Money, a mobile payments company operating in Africa and owned by Indian billionaire Sunil Bharti Mittal, plans to launch one of the largest stock market listings in London in recent years. The company aims to raise about $800 million with a valuation between $8 billion and $9 billion, marking a significant event for the London Stock Exchange.Key Facts
- Airtel Money serves 53 million users in 13 African countries.
- The company earned nearly $1.4 billion in revenue last year.
- Airtel Money is part of Airtel Africa, owned by Bharti Enterprises controlled by Sunil Bharti Mittal.
- Airtel Africa is already listed on London’s FTSE 100, but Airtel Money will be listed separately.
- The initial public offering (IPO) aims to raise around $800 million.
- The company chose London for its listing because of strong investor interest and expertise in emerging markets.
- Airtel Africa owns almost 78% of Airtel Money and will remain a major shareholder.
- Competitors and market conditions delayed the IPO, including instability caused by the US-Israeli war on Iran.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
