Airtel Africa proposes London Stock Exchange listing for Airtel Money
- Reports
- 2
- Developments
- 2
- Repetition
- 0%
New informationRepeats or wire copies
What happened
Airtel Africa is proposing an Offer for Sale listing of its financial services arm, Airtel Money, on the London Stock Exchange. The company plans to float at least 10% of its existing shares. International Finance Corporation agreed to purchase up to $90 million of these shares under a cornerstone investment agreement.
From zawya.com, indiatimes.com
Why it matters
The proposed listing provides structured liquidity for existing shareholders and pre-IPO investors. While the offering is a secondary sale and will not infuse fresh capital into the business, the move allows Airtel Money to access the London Stock Exchange market.
Airtel Money operates across 13 African markets and is planning to list on the London Stock Exchange.
From indiatimes.com
Who's involved
- Airtel AfricaAfrican provider of telecommunications and mobile money services proposing the listing
- London Stock ExchangeThe stock exchange where the Offer for Sale is proposed
- International Finance CorporationWorld Bank Group member financial institution acting as a cornerstone investor
- Qatar Investment AuthorityMinority shareholder in the business
- TPGAmerican investment company and minority shareholder
- MastercardAmerican multinational financial services corporation and minority shareholder
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Qatar Investment AuthoritySpeculative
Qatar Investment Authority might gain structured liquidity for its pre-IPO investment through the sale of shares.
- TPGSpeculative
TPG might gain structured liquidity for its pre-IPO investment through the sale of shares.
- MastercardSpeculative
Mastercard might gain structured liquidity for its pre-IPO investment through the sale of shares.
How this reaches others
Each traced step by step, with the reporting behind itHow it developed
Newest first. Tap a step to see who reported it.IFC to invest up to $90M in Airtel Money's IPO seeking LSE listing.1 source
Airtel Africa's proposed LSE listing includes IFC, TPG, QIA, and Mastercard as minority shareholders.1 source
Keep exploring
The entities involved
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Airtel Africa
African provider of telecommunications and mobile money services
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London Stock Exchange
stock exchange in the City of London
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International Finance Corporation
World Bank Group member financial institution
Related events
- Dual-listed companies, including Airtel Africa and Turquoise, maintained their presence and executed transactions on the London Stock Exchange.
- The board of directors approved the share issuance and transaction details for Airtel Africa, which is controlled by Bharti Airtel.
- IPO expected to boost the City of London as Airtel Africa plans its listing on the London Stock Exchange.
- Midas selected Airtel Africa as a top investment, while the LSE allows international businesses to trade there.
- Airtel Africa beneficially acquires a majority stake of 77.85% in Airtel Money.