UK private investors can buy shares in Airtel Money, the African mobile payments business, ahead of what could be London's largest stock market listing in five years.
A retail offer through RetailBook, a platform that gives private investors access to share sales, opened at £1.96 a share, with a minimum application of £250.
That price values the company at about £5.3 billion, or roughly $7 billion.
Applications can be made through participating brokers and investment platforms, including from individual savings accounts (ISAs) and self-invested personal pensions (SIPPs).
RetailBook will not charge commission, though individual platforms may levy their own fees.
The retail offer closes at 5pm on 8 October, with results due the following day and unconditional dealings set to start on 14 October.
Who is selling
Existing shareholders, including Mastercard and the Qatar Investment Authority, are selling 270 million shares worth about £529 million.
The offer is made up of existing shares, so the proceeds go to the sellers rather than the company.
Airtel Africa, the London-listed telecoms parent, will sell only through the over-allotment option, a reserve of extra shares used to meet strong demand.
It will remain a long-term strategic shareholder.
The International Finance Corporation, the World Bank's private sector arm, has agreed to buy up to £67.2 million of shares as a cornerstone investor.
Between 16.5% and 17.5% of the shares are expected to be in public hands, which could qualify Airtel Money for FTSE UK indices.
Citigroup, Barclays, Bank of America, Goldman Sachs and JPMorgan are running the offer.
Mobile money
Airtel Money lets customers in Africa send money, pay bills and save using their mobile phones.
It generated revenue of $1.346 billion in the year to March 2026.
The company can scale back or reject retail applications at its discretion.
