Airtel Africa Plc has announced that its mobile money subsidiary, Airtel Mobile Commerce N.V., intends to proceed with an Initial Public Offering (IPO) and seek admission to trading on the London Stock Exchange. The announcement was made in a statement by Mr Simon O’Hara, Airtel’s Group Company Secretary, and released on the Nigerian Exchange Limited. The proposed IPO will involve a secondary offering of existing Airtel Money shares held by current shareholders, with no new capital being raised by Airtel Money. Airtel Africa currently beneficially owns 77.85% of Airtel Money’s issued ordinary share capital.
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