Airtel Money has priced its planned London Stock Exchange listing at £1.96 per share, giving the mobile-money business an estimated market value of £5.3 billion, equivalent to about Ksh 913 billion.

The pricing marks a major step in Airtel Africa’s plan to separate its financial-services business from its telecommunications operations and establish Airtel Money as a standalone listed company.

The IPO will involve the sale of 270 million existing shares, valued at about Sh46.5 billion at the offer price. An additional 27 million shares could be sold if the over-allotment option is fully exercised.

Airtel Money itself is not expected to issue new shares as part of the main offer. Airtel Africa is also expected to remain a long-term shareholder, allowing the mobile-money business to gain greater independence while maintaining a link with its parent company.

The International Finance Corporation (IFC) has committed to purchase up to £67.2 million worth of shares, equivalent to about $90 million or Ksh 11.6 billion, under a cornerstone investment agreement.

“Before making any investment decision, potential investors should read the Prospectus, expected to be published by the Company later today,” Airtel Money said in a notice.

Kenya among key markets

The planned listing is significant for Kenya, where Airtel Money has continued to grow its customer base and agent network.

The business had approximately six million customers in Kenya and an estimated 11.1 per cent share of the mobile-money market as of June 2026. It also had between 260,000 and 270,000 active agents serving customers across the country.

Airtel Money is separately incorporated and regulated by the Central Bank of Kenya as a payment service provider, while Airtel Networks Kenya operates the telecommunications business.

Across Airtel Africa’s markets, Airtel Money had 54.1 million customers as of March 2026. The platform processed transactions worth $196 billion during the 2025-26 financial year, while revenue reached $1.355 billion.

The financial-services business provides mobile payments, money transfers, merchant services and other digital financial products. Its separation from Airtel’s telecoms operations is expected to allow the business to focus more directly on expanding these services.

The London listing could also provide Airtel Money with access to a wider pool of international investors and capital for technology, distribution and new financial products.

For Kenyan consumers and businesses, increased investment could translate into more competition in mobile payments and a broader range of digital financial services.

Airtel Money is expected to begin conditional trading on the London Stock Exchange on October 9, with full admission and unconditional dealings scheduled for October 14, 2026.

About 16.5 per cent of the company is expected to be held by public investors after the listing. This could rise to 17.5 per cent if the full over-allotment option is exercised.

The IPO will also provide a market-based valuation of Airtel Money as a standalone financial-services company, offering investors a clearer view of the growing value of mobile-money operations across Africa.