Airtel Africa has unveiled plans to float its mobile payments firm on the London stock market in what could deliver a major boost to the City.
The company, which is already listed on London’s FTSE 100 index, said it wanted Airtel Money to be listed separately on the London Stock Exchange.
The plans to launch an initial public offering (IPO) is expected to bring about one of London’s biggest listings in recent years.
The company is looking to raise around 800 million US dollars (£601 million) from the IPO, according to data compiled by Bloomberg.
Airtel Money is used by around 53 million people across Africa to make payments, pay bills, withdraw cash and access other money services.
Operating through a network of branches and kiosks, it generated revenues of around 1.4 billion US dollars (£1.1 billion) in the last financial year.
It is a subsidiary of Airtel Africa, a leading telecoms provider which is part of Indian conglomerate Bharti Enterprises.
