Airtel Africa dials up London for mobile money IPO

July 23 (Reuters) - Airtel Africa said on Thursday it had picked the London Stock Exchange for the listing of its mobile money business due later this year.  

Here are some details on the planned IPO and the firm's first-quarter results: 

• "We believe a London listing will provide access to a broad international investor base and support our ambition to unlock the long-term value of one of Africa's leading fintech platforms," CEO Sunil Taldar said.

• The African-focused telecoms group is targeting a listing of its third-largest unit Airtel Money in the second half of 2026, later than originally planned due to war-related cost pressures.

• The firm forecast pressure on its near-term core profit margins for the second time in the last four months, citing higher energy costs arising from the Iran conflict.

• The Iran conflict has triggered a crude supply crunch and upended supply chains, raising energy and logistics costs for companies everywhere, and prompting forecast cuts, project delays, and cost-cutting drives.

• The company, however, reported higher first-quarter revenue and profits benefiting from strong demand for mobile networks, adoption of new digital technologies and artificial intelligence, and currency tailwinds.

(Reporting by Prerna Bedi in Bengaluru; Editing by Rashmi Aich)