Airtel Money's IPO Could be Less Impressive than Expected
Dow Jones
Sep 23
0942 GMT - Airtel Money's upcoming initial public offering might be less impressive than initially expected, AJ Bell's Dan Coatsworth writes in a note. The African digital financial services platform said it plans to list existing shares on the London Stock Exchange. While the IPO appears as a positive for London's market reputation, the company says it won't raise any new money at all from it. "There was speculation it would raise at least $800 million through the stock listing," he adds. Airtel Africa shares are up 0.3% at 3.13 pounds.
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