Airtel Money has launched a retail share offer in the United Kingdom as part of its planned London Stock Exchange listing, setting the offer price at £1.96 per share.
The price implies an estimated market value of £5.3 billion, or about US$7 billion, when the shares are admitted to trading, according to an announcement issued on October 2 by Airtel Mobile Commerce N.V., the company behind Airtel Money.
The retail offer is open to eligible investors who are resident and physically present in the UK. Applications must be made through participating investment platforms, brokers or wealth managers, and the minimum application is £250.
Investors may be able to apply through an Individual Savings Account, Self Invested Personal Pension or general investment account, depending on their intermediary’s rules.
The offer is being made alongside a separate institutional offer. Applications for the retail offer are due by 5 p.m.
London time on October 8, with results expected the following day. The company expects trading on the London Stock Exchange to begin at 8 a.m. on October 14, subject to the timetable proceeding as planned.
RetailBook, the platform facilitating the offer, says it will not charge investors commission, although participating intermediaries may apply their own fees. Airtel Money may also scale back or reject applications.
The company said investors should make decisions based on the approved prospectus, which contains further information and risk factors.
The shares are not being offered to the public in several jurisdictions, including the United States, Canada, Australia, New Zealand, South Africa and Japan.
