Airtel Money makes muted London trading debut
Shares in Airtel Money opened flat before rising as much as 2% in their London debut on Friday, a steady start to one of London’s biggest listings in years after a heavily oversubscribed offer.
The stock was trading at £2 per share, above its £1.96 IPO price. The Sub-Saharan Africa-focused fintech had targeted a valuation of roughly $7 billion.
The muted start comes despite an offering that drew demand several times the shares available, with Airtel Money raising about $703 million from the sale of 270 million shares at a fixed price of £1.96 each.
