Airtel Money set for £5.3bn valuation in biggest London IPO in five years

Airtel Money will begin trading today on the London Stock Exchange in what is expected to be the largest initial public offering in the City for five years. The mobile payments firm has priced its shares at £1.96 apiece, which is expected to hand it a price tag of around £5.3bn. Existing shareholders, which include the Qatar Investment Authority and Mastercard, are offering up 270m shares that is expected to raise around £529m. It will begin trading at 8am when markets open on Friday, under the ticker AMC. A successful flotation would open the door for a spot in the FTSE 100. Airtel previously said it expects to have a “free float that would make it eligible for inclusion” in the FTSE indices. The London Stock Exchange has not managed to land an IPO north of £1bn since 2021, when Deliveroo and Wise each floated at valuations just shy of the £8bn mark. Deliveroo has since delisted following its takeover by US-based Doordash, meanwhile Wise has downgraded its listing after sw