Airtel Africa (LSE:AAF), which provides telecommunications and mobile money services across 14 African markets, said on Wednesday that Airtel Money is considering an initial public offering (IPO).
The proposed listing would be a secondary offering, meaning existing Airtel Money shareholders would sell shares they already hold rather than the business raising new capital.
Airtel Africa currently owns 77.85% of Airtel Money's issued ordinary share capital.
The group expects to remain a long-term strategic shareholder after admission and to support the mobile money unit's development as an independently listed business.
Airtel Africa cautioned that Airtel Money may ultimately decide not to proceed, and there is no guarantee a prospectus will be published, that the IPO will go ahead, or that admission will occur.
