Airtel Money to trim London IPO size ahead of kick-off, Bloomberg News reports
Airtel Money to trim London IPO size ahead of kick-off, Bloomberg News reports Sept 17 (Reuters) - Airtel Africa's AAF.L Airtel Money is considering downsizing its London IPO, which could launch as soon as next week, Bloomberg News reported on Thursday, citing people familiar with the matter.
Here are more details:
Airtel Money is now seeking to raise at least $800 million, substantially lower than its targeted size of $1.5 billion to $2 billion, Bloomberg said in its report.
The mobile money services company's valuation of the offering was reduced after feedback from investors, the report added.
Airtel Africa had delayed the listing of its third-largest unit to the second half of 2026 due to cost-related pressures arising from the ongoing US-Israeli war on Iran.
The listing comes as Airtel Africa faces pressure on its near-term core profit margins due to higher costs arising from the ongoing war.
Airtel Africa did not respond immediately to a Reuters request for comment.
(Reporting by Unnamalai L in Bengaluru; Editing by Maju Samuel)
((Unnamalai.L@thomsonreuters.com;))