Airtel Money targets up to $9 billion valuation in London IPO, FT reports (updated)
UPDATE 1-Airtel Money targets up to $9 billion valuation in London IPO, FT reports Adds details and background throughout
Sept 22 (Reuters) - Airtel Africa's AAF.L Airtel Money is expected to file for a London initial public offering as early as Wednesday, targeting a valuation of $8 billion to $9 billion, the Financial Times reported on Tuesday, citing two people briefed on the plans.
Airtel Africa did not immediately respond to a Reuters request for comment outside regular business hours.
The company is looking to raise at least $800 million from investors, FT said.
Airtel Money's owners were considering scaling back the IPO from the previously targeted $1.5 billion to $2 billion range, Bloomberg News reported last week.
Airtel Africa in July picked the London Stock Exchange LSEG.L for the listing of its mobile money business.
In May, the Africa-focused telecoms group pushed back Airtel Money's planned IPO to the second half of the year amid cost-related pressures arising from the ongoing US-Israeli war on Iran. Several other firms have also delayed their IPOs as the war drives market volatility.
Airtel Africa had earlier planned to list Airtel Money in the first half of 2026. The unit is its third-largest revenue segment.
(Reporting by Sathvi G Bhat in Bengaluru; Editing by Shreya Biswas and Jonathan Ananda)
((Sathvi.GBhat@thomsonreuters.com))