From The Economic Times · ET Bureau · · 1m 10s
Airtel Money Lists on LSE
Airtel Money debuts on LSE with £529m raise, largest listing in 5 years.
In brief
Airtel Money debuts on LSE with £529m raise, largest listing in 5 years. Airtel Money's £5.3bn valuation on LSE marks biggest listing in five years with £1.96 shares. Originally reported by The Economic Times.
Airtel Money debuts on LSE
Airtel Money debuted on the London Stock Exchange with an offer for sale raising roughly £529 million through 270 million existing shares.
Valuation at £5.3 billion
The public listing valued Airtel Mobile Commerce NV at around £5.3 billion with shares priced at £1.96 each.
Oversubscribed offer
The offer was multiple times oversubscribed attracting strong demand from a broad mix of investors.
Trading starts Friday
Conditional trading began Friday with full trading and formal admission to the LSE expected on October 14.
Minority shareholders sell
Minority shareholders, including Qatar Investment Authority and TPG Inc, sold approximately 270 million shares.
Retail investors get shares
Around 8 million shares were allocated to retail investors in the UK.
Chairman's statement
Sunil Mittal, chairman of Bharti Enterprises, called the listing a vote of confidence in the UK as an attractive global investment destination.
The bottom line
Airtel Money's £5.3bn valuation on LSE marks biggest listing in five years with £1.96 shares.
