Airtel Africa Plc (NGX: AIRTELAFRI) has announced the offer price for the planned initial public offering (IPO) of Airtel Mobile Commerce N.V (Airtel Money) and the intention to publish a prospectus later today.
Also read; Stanbic IBTC Holdings Plc announces N4.50 interim dividend for H1 2026
The announcement published on The Nigerian Exchange and seen by Investogist, notes that 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, and that Admission is currently expected to occur on 14 October 2026.
The Announcement sets out certain details of the Offer, including:
- The price for the Offer has been set at £1.96 per Airtel Money share, implying an estimated market capitalisation at Admission of £5.3 billion (approximately US$7.0 billion).
- Pursuant to the Offer, certain of Airtel Money’s existing shareholders are expected to sell, in aggregate, 270,000,000 existing Airtel Money shares. In addition, up to a maximum of 27,000,000 existing Airtel Money shares may be sold pursuant to an over-allotment option.
- Airtel Africa 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, it is expected that approximately 16.5% of Airtel Money’s issued ordinary share capital will be held in public hands (within the meaning of UK Listing Rule 5.5), 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).
- Airtel Money expects it would have a free float that would make it eligible for inclusion in the FTSE UK indices.
In September, Airtel Africa Plc announced that Airtel Mobile Commerce N.V would proceed with an initial public offering and will apply for admission of its ordinary shares to the equity shares (commercial companies) category of the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange.
The Announcement noted that the proposed IPO would comprise a secondary offering of existing Airtel Money shares to be sold by existing Airtel Money shareholders, with no new capital being raised by Airtel Money. Airtel Africa currently beneficially owns 77.85% of Airtel Money’s issued ordinary share capital and, following Admission, Airtel Africa expects to remain a long-term strategic shareholder and to support Airtel Money’s next phase of development as an independently listed business.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
