Airtel Money makes weak London market debut
London: Mobile payments firm Airtel Money made a weak debut on the London Stock Exchange, with shares closing 6% below their initial public offering (IPO) price, dealing a setback to the UK’s struggling IPO market.
The shares ended at 184.2 pence against the IPO price of 196 pence, valuing Airtel Mobile Commerce NV, as the company is formally known, at about £5 billion ($6.6 billion).
