African mobile payments company Airtel Money is readying for one of the largest London Stock Market (LSE) debuts in several years, with multiple news outlets reporting it will aim to raise at least $800 million.

Airtel Money’s parent company, Airtel Africa, released an intention to float document on Wednesday confirming that the company will look to list on the LSE and linking to a webpage with more information about the initial public offering (IPO).

The announcement said that Airtel Money expects to disclose additional information around the offer, including its indicative size and price range issue, in its prospectus, which it will release early October.

Its final offer price will be determined following the prospectus’s publication, and is expected to be released mid-October.

Both the Financial Times and Reuters have reported that Airtel intends to raise around $800 million with a valuation between $8 billion and $9 billion, citing sources close to the matter.

Airtel Money operates a scaled digital financial services platform across 13 markets in Africa, using a mobile-led model to meet the needs of its core audience, which it described in its intention document as “a young and fast-growing population, which has limited access to traditional banking”.

The company has around 53 million monthly active users, connecting merchants, consumers, enterprises and agents in an ecosystem that enables a range of financial services including transactions, cash deposits and international money transfers.

Its revenue reached $1.35 billion in the 2025-2026 financial year, with a claimed EBITDA margin of around 50 per cent.

Airtel Money itself is around 78 per cent owned by Airtel Africa, which in turn is part of India-based conglomerate Bharti Enterprises. Airtel Africa, which itself is listed on the LSE’s FTSE 100 index as well as the Nigerian Stock Exchange, is expected to remain a long-term shareholder after its IPO.

Ian Ferrao, chief executive of Airtel Money, said that a London listing will underpin the company’s next wave of growth and provide a “substantial” opportunity to take advantage of the demographic and digital tailwinds in the markets it serves.

“In just over a decade we have grown into one of Africa's largest fintech platforms, built upon a scalable technology stack and an agent network that delivers essential financial services to approximately 53 million users every month, translating into strong revenue growth and industry-leading margins, delivered by a highly experienced management team,” he added.

“Digital transaction volumes across our footprint are forecast to grow around fivefold by 2031, and we can capture this opportunity by accelerating conversion of the growing Airtel Africa telco subscriber base, moving customers onto our app where they transact more often, and by broadening the range of products we offer them.”

If the flotation goes ahead, it will be one of the largest in recent history for the LSE, and may bolster a market that has struggled to attract large listings in recent years. It is the second piece of good news for the exchange this month, following Revolut chief executive Nik Storonsky’s revelation to the FT that his bank will seek a dual listing in the US and UK.

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