Airtel Africa Plc's mobile money unit, Airtel Money, is considering a reduced initial public offering size in London, with a potential launch as early as next week. The company is now looking to raise at least $800 million, a substantial decrease from the earlier reported target of $1.5 billion to $2 billion.
Bloomberg News, citing people familiar with the matter, first reported this trim on September 17, 2026. This potential downsizing comes after Airtel Africa confirmed London as the primary listing location for its mobile-money business in July 2026, aiming for a listing this year. Earlier reports in April 2026 had indicated the IPO could raise between $1.5 billion and $2 billion.
The initial valuation for Airtel Money was previously estimated at over $10 billion. However, with the trimmed IPO size, the company is now reportedly mulling a valuation between $8 billion and $9 billion. Airtel Africa holds approximately 78% ownership of Airtel Money.
Following the news of the potential IPO size reduction, Airtel Africa's shares experienced a significant drop. On September 18, 2026, the company's shares slumped 9.1% to 324.20 pence each in London, making it the worst performer on the FTSE 100 index.
