Following its September 23 2026 announcement of its plan for the Initial Public Offering of mobile money subsidiary- Airtel Mobile Commerce N.V., telecommunications and mobile money services provider across 14 African markets, Airtel Africa Plc, on Friday put the offer price at £1.96 each.
Certain of Airtel Money’s existing shareholders, according to a notice to the London Stock Exchange and the Nigerian Exchange Limited, “are expected to sell, in aggregate, 270 million existing Airtel Money shares. In addition, up to a maximum of 27 million existing Airtel Money shares may be sold pursuant to an over-allotment option,” according to a statement by Simon O’Hara, the Group Company Secretary.
Based on this set price, Airtel Money is expected to have an estimated market
capitalisation at admission of £5.3 billion (approximately US$7.0 billion), with a free float that would make it eligible for inclusion in the FTSE UK indices.
Airtel Africa, O’Hara continued, “is not expected to sell existing Airtel Money shares in the Offer other than pursuant to the over-allotment option and is expected to remain a long-term strategic shareholder and to support Airtel Money’s next phase of development as an independently listed business.”
Based on current indications received from Airtel Money’s existing shareholders, the group expects that approximately 16.5% of Airtel Money’s issued ordinary share capital will be held in public hands, “assuming the over-allotment option is not exercised (increasing to approximately 17.5% if the maximum number of additional Airtel Money shares are acquired pursuant to the over-allotment option).”
Furthermore, the notice said Airtel Money intends to apply for admission of its ordinary shares to the equity shares (commercial companies) category of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange (together, ’Admission’), and that Admission is currently expected to occur on 14 October 2026.
