NEW DELHI: Sunil Bharti Mittal’s Airtel Money, a digital financial services platform operating across 13 African markets, has announced its plan to list on the London Stock Exchange (LSE).Sources said the company could raise about $800 million from an initial public offering (IPO) and is targeting a valuation of $8 billion to $9 billion – possibly making it one of London’s largest listings in recent years.The company, which provides financial services across Africa through a mobile-led model operating on a highly scalable technology stack, said this IPO “would provide the opportunity to invest in one of Africa’s largest fintech platforms that is revolutionising digital financial services and enabling financial inclusion for millions…. outlook reflects the resilience of our model and the significant opportunity we continue to unlock across Africa.“AirtelMoney chief executive officer Ian Ferrao said: “A London listing will underpin our next wave of growth. The opportunity ahead of us is substantial and importantly there are many demographic and digital tailwinds within the markets that we serve… We are approaching this from a position of financial strength. The business is debt-free, capital-light and highly cash generative, which is why this offer consists solely of shares sold by existing shareholders and no new capital is being raised.“
