Reuters: IPOX® Associate Lukas Muehlbauer Comments on Airtel Money’s London IPO

Reuters reports that Airtel Money is targeting a valuation of approximately $7 billion in its London IPO, offering a potential boost to a market that has struggled to attract major listings in recent years. The mobile money arm of Airtel Africa plans to sell 270 million shares at £1.96 each, raising approximately $703 million ahead of an expected October 14 trading debut.

IPOX® Associate Lukas Muehlbauer commented on the significance of the transaction for London’s IPO market, while noting that current conditions continue to favor investors and require issuers to take a disciplined approach to valuation.

“The deal is a sign that London can still attract a sizeable international IPO, but it also shows that this is a buyer’s market in which companies have to be realistic about valuation,” said Muehlbauer.

At approximately $703 million, the offering would be London’s largest IPO since Fermi Inc.’s dual listing in September 2025, according to Dealogic data cited by Reuters. Airtel Money is expected to have a free float of about 16.5% following the offering.

Read the full article by Yamini Kalia and Atharva Singh on Reuters: Airtel Money targets $7 billion valuation in IPO boost for London