Airtel Money launches £5.3bn London IPO, the biggest in five years

Airtel Money started trading on the London Stock Exchange at 8 a.m. under the ticker AMC, after pricing its shares at £1.96 each, which places the fintech at an estimated £5.3 billion market value. The offering includes 270 million shares expected to generate roughly £529 million, with existing shareholders like the Qatar Investment Authority and Mastercard among the sellers. The International Finance Corporation took a £67.2 million cornerstone stake, while UK retail investors received an allocation of 8 million shares via Retail Book.

With over 50 million customers, the company hopes the flotation will pave the way for a FTSE 100 spot and stimulate further fintech listings in London. CEO Ian Ferrao described the float as the start of a new chapter for expanding Africa’s digital financial services. The IPO marks the largest London listing since 2021, when Deliveroo and Wise each floated near £8 billion.