Airtel Mobile Commerce N.V., the vehicle behind Airtel Money, announced a share price of £1.96 for its London market debut, valuing the company at roughly £5.3 billion (about $7 billion) when trading begins.

The offer was first disclosed on 23 September, and the full prospectus is slated for publication later on 1 October.

No new shares are being issued; the transaction involves only the sale of existing holdings.

Airtel Africa, a current shareholder, will not sell any shares except through the optional over‑allotment, and it intends to remain a long‑term strategic investor.

The International Finance Corporation committed to purchase up to £67.2 million of shares at the offer price, providing a cornerstone commitment ahead of the offer close.

The company expects about 16.5% of its shares to be held by the public after the offer, rising to roughly 17.5% if the over‑allotment is fully exercised, a level intended to meet FTSE UK index eligibility.

Shareholders, including directors, face lock‑up periods: the company and existing shareholders cannot sell for 180 days after listing, while directors are restricted for 365 days, with limited exceptions detailed in the prospectus.

Twelve banks are involved in the transaction, with Citigroup Global Markets acting as sole sponsor, lead left global coordinator and joint bookrunner; other coordinators include Barclays, Merrill Lynch International, Goldman Sachs Bank Europe and J.P. Morgan, while several banks serve as joint bookrunners.

Citigroup also serves as stabilising manager, permitted to buy shares for up to 30 days after conditional trading begins to support the price, though it cannot push the price above the offer level and has no obligation to intervene.