• Saturday, April 13, 2024
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Airtel Africa mulls $4bn IPO for mobile money unit

Airtel buys back over 5mn shares from Citigroup in 12 trading days

Airtel Africa Plc is exploring an initial public offering (IPO) for its mobile money unit, Airtel Money, according to a Bloomberg report.

The potential IPO will value the unit at $4 billion. The report revealed that Airtel has been in talks with potential advisors regarding listing Airtel Money this year.

“The exact location for the listing remains undecided, with executives considering stock exchanges in the United Arab Emirates, London, and other European markets,” it read.

The final decision to proceed with the IPO rests with Airtel Africa, and details like timing and valuation are still under discussion.

However, this potential move comes after investments from TPG ($200 million in 2021) and Mastercard ($100 million in 2021) that valued Airtel Money at $2.65 billion.