A mobile money service linked to a major African telecom operator and backed by an Indian billionaire is preparing to launch one of the largest initial public offerings on the London Stock Exchange in recent years. The move comes as the UK’s stock market struggles with declining listings, following a wave of high-profile companies leaving for rival exchanges. Airtel Money, which operates across several African markets, aims to raise significant capital through its planned float, offering a rare bright spot amid broader challenges for London’s financial hub. The listing could inject much-needed momentum into a market that has seen a steady exodus of major firms in search of more favorable conditions elsewhere.
Sunil Bharti Mittal’s Airtel Money targets $9bn IPO in boost for ailing UK stock marketA payments business that operates across Africa and is ultimately controlled by an Indian billionaire has announced its intention to float on the struggling London Stock Exchange.Airtel Money, the mobile money arm of Airtel Africa, is planning one of the biggest UK listings in years, in a boost for the shrinking London market that has faced a string of recent departures. Continue reading...
