Airtel Money targets $7 billion valuation, plans $703 million London IPO

Airtel Money, the mobile money arm of Airtel Africa, is targeting a valuation of about $7 billion in its London stock market debut, offering a potential boost for a market that has struggled to attract major listings in recent years.

The company said on Thursday that it planned to sell 270 million shares at a fixed price of £1.96 each in its initial public offering, raising about $703 million ahead of a mid-October debut.