London Stock Exchange Welcomes AIRTEL MONEY To The Main Market
The London Stock Exchange is delighted to welcome Airtel Money (Airtel Mobile Commerce N.V.) to the Main Market. Conditional trading in Airtel Money’s ordinary shares began today under the ticker “AMC”.
Airtel Money is one of Africa’s leading digital financial services platforms, providing millions of customers and businesses with access to a growing range of financial services and enabling them to participate in the digital economy.
Through its platform, customers can transfer money locally and abroad, make payments, access a virtual debit card, access credit, save, invest, buy insurance and transact with merchants and businesses. Airtel Money also provides payment, collection and disbursement solutions to businesses and institutions, supported by an extensive agent network across its markets.
Launched in 2011 as the mobile money arm of Airtel Africa, Airtel Money today serves approximately 53 million monthly active users across 13 African countries, supported by more than 2.3 million local agents.
The Offer was priced at £1.96 per share, giving Airtel Money a market capitalisation of approximately £5.3 billion. All shares in the Offer are being sold by existing shareholders. Airtel Money is not issuing new shares or raising money through the Offer.
In Nigeria, Airtel Money operates through Airtel's licensed subsidiary, SmartCash Payment Service Bank, reflecting Nigeria's Payment Service Bank regulatory framework ) in their day-to-day lives.
Business Secretary Jonathan Reynolds said:
“This is yet another vote of confidence in our economy and the business environment we've created in the UK. This landmark IPO shows ambitious businesses continue to choose Britain to raise capital, access global investors and boost their growth.
“This latest win for the UK shows London remains one of the world's leading financial centres, including for African-focused businesses, connecting companies with deep pools of capital and world-class investors.”
Ian Ferrao, Chief Executive Officer of Airtel Money, said:
“Today marks an important milestone for Airtel Money as we join the London Stock Exchange and begin the next chapter of our growth.
“Over the past 15 years, we have built one of Africa’s leading digital financial services platforms, connecting millions of customers and businesses to an increasingly broad range of financial services. Yet we believe the opportunity ahead of us is even greater.
“As a listed company, we will remain focused on expanding our digital financial services ecosystem, deepening financial inclusion and helping accelerate Africa’s transition to a more connected digital economy. In doing so, we believe we can continue to deliver sustainable growth and create long-term value for our customers, partners, communities, Governments and shareholders.”
Country Director for UK’s Business, Innovation, Science and Technology (BIST) in Nigeria, Mark Smithson, said:
“Airtel Money's listing on the London Stock Exchange today is a powerful example of how Africa-focused businesses can access international capital while remaining rooted in the markets and communities they serve. As one of Africa's leading fintech success stories, Airtel Money reflects the growing strength, ambition and global competitiveness of African businesses. It also highlights London's continued role as a gateway connecting fast-growing companies with investors, expertise and international networks that help businesses scale.
“Through the UK-Nigeria Strategic Partnership, we're helping connect ambition with investment, expertise, and opportunity to drive jobs and sustainable economic growth. Together, we are supporting the next generation of African businesses to grow, innovate, and compete on the global stage.”
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