Airtel Money Lists 2.7 Billion Shares on London Stock Exchange Following IPO

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FILE PHOTO: People walk past the London Stock Exchange Group offices in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville

Airtel Money has announced the admission of its entire issued ordinary share capital, comprising 2.7 billion shares, to the London Stock Exchange’s Main Market, marking a significant milestone following its initial public offering (IPO).

According to a company announcement, the shares were scheduled to begin unconditional trading at 8:00 a.m. London time on Wednesday, October 14, 2026, under the ticker symbol AMC.

The shares were admitted to the equity shares (commercial companies) category of the Official List maintained by the United Kingdom’s Financial Conduct Authority (FCA).

The listing follows Airtel Money’s October 9 announcement concerning its IPO and establishes a publicly traded share structure for the company’s ordinary equity.

Under the arrangement, each ordinary share carries one vote at the company’s general meetings, bringing the total number of voting rights to 2.7 billion.

Airtel Money said shareholders and other investors subject to disclosure obligations can use that figure to determine whether their holdings, or changes in their holdings, must be reported under the FCA’s Disclosure Guidance and Transparency Rules.

The company had already begun conditional trading on October 9, when its IPO valued the business at approximately £5.3 billion, equivalent to $7 billion, at an offer price of £1.96 per share.

The offering involved the sale of 270 million existing shares, representing 10% of the company’s issued share capital, with gross proceeds of approximately £529.2 million.

Because these were existing shares, the proceeds went to selling shareholders rather than being raised as new capital for Airtel Money.

Airtel Money serves approximately 53 million monthly active users across 13 African countries, supported by more than 2.3 million agents. Its services include domestic and international money transfers, merchant payments, savings, credit and insurance.

Airtel Money Chief Executive Officer Ian Ferrao described the listing as an important milestone for the company.

“Our listing in London marks an important new chapter for our business and reflects what we have built across Africa and the significant opportunity ahead,” he said in the October 9 announcement.

Airtel Africa remains a strategic shareholder in the independently listed business.

The transaction also reflects growing investor interest in Africa’s digital financial services industry, where mobile money platforms are expanding access to payments and other financial products.

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