London [UK], October 9 (ANI): Airtel Money, the digital financial services business operating across Africa, has begun conditional trading on the London Stock Exchange at a valuation of Pound 5.3 billion (approximately USD 7 billion), marking a major milestone for the company.

The company's shares are trading under the ticker symbol AMC, with the offer price set at Pound 1.96 per share. Conditional dealings commenced at 8:00 a.m. on October 9, 2026, while admission to the Official List and the start of unconditional trading are expected on October 14, according to the company's announcement.

The company said, "Investors should note that only those who applied for and were allocated Shares in the Offer will be able to deal in the Shares on a conditional basis".

The initial public offering (IPO) comprises the sale of 270 million existing shares by minority shareholders. In addition, up to 27 million shares are being made available by Mastercard Asia/Pacific PTE. LTD.

If the overallotment option is exercised in full, the total offer size will reach Pound 582 million, representing approximately 11 per cent of the company's share capital at admission.

Immediately following admission, Airtel Money's issued share capital will comprise 2.7 billion shares.

International Finance Corporation (IFC) has been allocated 34,285,714 shares in the offer, representing a total investment of Pound 67.2 million. This fulfils IFC's full commitment under the cornerstone investment agreement.

Sunil Bharti Mittal, Founder of Airtel and Founder and Chairman of Bharti Enterprises, welcomed the listing and said London remained an attractive destination for investment, supported by its stable business and policy environment.

"In 2019, we listed Airtel Africa in London to leverage the UK's established investor base of patient, strategic capital, and willingness to invest in dynamic emerging market companies. The same conditions made London the obvious choice for this new listing in 2026" Mittal said.

He added that the oversubscription of the Airtel Money offering demonstrated the appetite of the UK market for high-quality investment opportunities.

Airtel Money Chief Executive Officer Ian Ferrao described the listing as a new chapter for the business, highlighting its efforts to make financial services simpler and more accessible to millions of people across Africa.

"As a listed company, we will remain focused on building Africa's leading digital financial services platform, connecting more people and businesses to the formal financial system," Ferrao said.

The company said the listing would support its next phase of growth as it seeks to expand access to digital financial services and contribute to a more inclusive, digitally connected economy across Africa.

The company, its directors and selling shareholders will be subject to lock-up arrangements following admission. The company and selling shareholders will face a 180-day lock-up period, while directors will be subject to restrictions for 365 days, subject to specified exceptions. (ANI)