Airtel Money, the mobile financial services arm of Airtel Africa, is seeking to cut its planned London initial public offering (IPO) to at least $800 million after investors pushed back on the proposed valuation, according to agency report.
The revised fundraising target would be significantly below Airtel Money’s earlier ambition of raising between $1.5 billion and $2 billion from the listing, representing a reduction of at least $700 million from the lower end of the original range.
The IPO could launch as early as next week, according to the report, making the downsizing a significant change to the planned transaction as Airtel Money prepares to access London’s capital market.
The reported adjustment follows feedback from investors that led to a reduction in the valuation attached to the offering. The company is now seeking to raise at least $800 million, although the final size and terms of the transaction could still change.
Airtel Africa did not immediately respond to request for comment.
The planned listing of Airtel Money comes at a critical point for its parent company, which has been managing higher operating costs and pressure on near-term core profit margins.
Airtel Africa had previously pushed the listing into the second half of 2026, citing cost-related pressures linked to the ongoing US-Israeli war on Iran. The company’s decision to proceed with the transaction now comes against a backdrop of higher costs and a more challenging funding environment for large emerging-market transactions.
The reduction in the IPO target also means Airtel Money could raise substantially less fresh capital than initially envisaged. At the lower end of its original target, the proposed $800 million raise represents about 47 percent less than the $1.5 billion previously targeted.
At the upper end, the reduction is 60 percent.
Airtel Money is Airtel Africa’s third-largest business and operates mobile money services across several African markets, providing payments, transfers and other financial services through mobile networks.
The London listing has been positioned as an important capital-markets transaction for the group, with the proposed separation and listing of the mobile money business intended to unlock value from one of Africa’s fastest-growing digital financial services businesses.