The company priced its offer at £1.96 a share, giving it an estimated market value of £5.3 billion, or approximately $7 billion, when it is admitted to trading.
The figure is below the £6 billion to £6.7 billion valuation discussed in earlier market reporting. That comparison gives the flotation its fresh angle, although the higher range was reported market expectation, rather than a previous official offer price.
Existing investors plan to sell 270 million shares at the offer price, a sale worth approximately £529 million. Up to 27 million additional shares could be sold through an option designed to support trading after the offer.
Airtel Money itself will not receive that £529 million: the shares being offered already belong to investors. The flotation instead gives those shareholders a way to sell part of their holdings while establishing a publicly traded value for the African business.
In its October 1 announcement, parent company Airtel Africa said it did not expect to sell shares in the main offer. It intends to remain a long-term strategic shareholder, although it could sell some shares if the additional option is used.
Where Sunil Mittal fits in
Airtel Money was built within Airtel Africa, part of the telecoms business associated with Indian billionaire Sunil Bharti Mittal.
Bharti Airtel is a major shareholder in Airtel Africa, and Mittal founded the wider Bharti enterprise. That is the basis for calling the payments company Mittal-linked.
Mittal previously chaired Airtel Africa but stepped down in July 2026. Gopal Vittal now holds that position. The leadership change does not remove the Bharti group’s connection to the payments business; it does mean a current story should not identify Mittal as Airtel Africa’s chair.
The more consequential question for Africans is how international investors value a payments network used across 13 African markets. Airtel Money reported more than 53 million monthly active customers by June. Its services allow users to move money and make everyday payments by phone, often where access to conventional banking is limited.
Airtel Africa expects roughly 16.5% of Airtel Money’s shares to be publicly held after the offer, rising to about 17.5% if all the additional shares are sold. Trading in London is expected to begin on October 14, subject to the remaining steps.
The eventual share price will show whether investors accept the $7 billion valuation. For now, £1.96 is the announced offer price, not proof that the company has already listed or that its shares are trading at that level.
Source: africa.businessinsider.com
