Airtel Money priced its London initial public offering at roughly $2.60 (£1.96) per share, giving the mobile‑money arm a valuation of about $7 bn (£5.3 bn) ahead of its debut on the London Stock Exchange later this month.

The offering consists of 270 million existing shares held by current shareholders, expected to raise around $700 million (£529 million) at the set price, with an optional over‑allotment of up to 27 million additional shares that could lift proceeds to about $770 million (£582 million).

All shares on offer are existing holdings, meaning Airtel Money will not receive new capital from the listing; the proceeds will go to the selling shareholders, whose identities were not disclosed.

Airtel Africa, itself listed in London and Lagos, will not sell shares except through the over‑allotment option and will stay a long‑term strategic shareholder.

The International Finance Corporation, the World Bank’s private‑sector arm, committed to purchase up to $90 million (£67.2 million) of shares as a cornerstone investor.

Conditional trading of the shares is slated to begin on 9 October, with full admission and unrestricted trading scheduled for 8 am London time on 14 October.

The retail portion of the offer is not open to investors in Kenya or other African markets, limiting direct participation for local investors.

Lock‑up arrangements require the company and existing shareholders to refrain from selling further shares for 180 days from admission, while directors face a 365‑day lock‑up period.