Airtel Money plans London IPO without fresh capital

Airtel Mobile Commerce NV, popularly known as Airtel Money, plans to list on the London Stock Exchange through an initial public offering (IPO) comprising only shares sold by existing shareholders, with no fresh capital to be raised by the company, Airtel Africa said in a filing on the LSE on Wednesday.

The offer will also include a cornerstone investment of up to $90 million from the International Finance Corporation (IFC).