Airtel Africa's mobile money arm to file for London IPO

Sept 23 (Reuters) - Airtel Money, the mobile money arm of Airtel Africa, announced on Wednesday that it intends to file for an initial public offering in London.

The company had originally targeted a listing in the first half of 2026 but delayed it in May to the second half, citing unfavourable market conditions tied to the U.S.-Israeli war against Iran. 

The listing will give London one of its largest offerings this year, a rare boost for a market that has faced a prolonged slowdown in new listings and a steady stream of companies opting to list overseas or pursue alternative funding.

Airtel Money is targeting a valuation of $8 billion to $9 billion in its planned London IPO and was looking to raise at least $800 million from investors, the Financial Times reported on Tuesday, citing two people briefed on the plans. 

The company said it will disclose additional details of the offer, including the indicative price range and number of shares to be offered, in early October.

(Reporting by Nithyashree R B and Shashwat Awasthi in Bengaluru; Editing by Rashmi Aich)