Airtel Money announcement of offer price

Airtel Africa PLC

01 October 2026

 

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, AUSTRALIA, NEW ZEALAND, SOUTH AFRICA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

This announcement is not an offer of securities for sale or subscription, nor a solicitation of an offer to acquire or subscribe for securities, in any jurisdiction, including in or into the United States, Canada, Australia, New Zealand, South Africa or Japan.

This announcement contains inside information.

Airtel Africa plc

('Airtel Africa', or the 'Group')

Airtel Money announcement of offer price

London and Lagos, 1 October 2026:  Airtel Africa plc ('Airtel Africa' or the 'Group'), a leading provider of telecommunications and mobile money services across 14 African markets, notes today that following the announcement on 23 September 2026 confirming its intention to undertake an initial public offering, Airtel Mobile Commerce N.V. ('Airtel Money') has announced the offer price for its planned initial public offering (the 'IPO' or the 'Offer'), and its intention to publish a prospectus, which is expected to take place later today (the 'Announcement').

The Announcement notes that Airtel Money intends to apply for admission of its ordinary shares to the equity shares (commercial companies) category of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange (together, 'Admission'), and that Admission is currently expected to occur on 14 October 2026.

The Announcement sets out certain details of the Offer, including:

·      The price for the Offer has been set at £1.96 per Airtel Money share, implying an estimated market capitalisation at Admission of £5.3 billion (approximately US$7.0 billion).

·      Pursuant to the Offer, certain of Airtel Money's existing shareholders are expected to sell, in aggregate, 270,000,000 existing Airtel Money shares. In addition, up to a maximum of 27,000,000 existing Airtel Money shares may be sold pursuant to an over-allotment option.

·      Airtel Africa is not expected to sell existing Airtel Money shares in the Offer other than pursuant to the over-allotment option and is expected to remain a long-term strategic shareholder and to support Airtel Money's next phase of development as an independently listed business.

·      Based on current indications received from Airtel Money's existing shareholders, it is expected that approximately 16.5% of Airtel Money's issued ordinary share capital will be held in public hands (within the meaning of UK Listing Rule 5.5), assuming the over-allotment option is not exercised (increasing to approximately 17.5% if the maximum number of additional Airtel Money shares are acquired pursuant to the over-allotment option).

·      Airtel Money expects it would have a free float that would make it eligible for inclusion in the FTSE UK indices.

Additional details in relation to the Offer are available in the Announcement and will be disclosed in the prospectus, which is expected to be published later today and will be available on Airtel Money's website at ipo.airtelmoney.com, subject to certain access restrictions.

-ENDS-

Enquiries

Airtel Africa - Investor Relations Alastair Jones [e-mail]	[phone]
Hudson Sandler Nick Lyon Nelly Apaka [e-mail]	[phone]

The person responsible for releasing this announcement on behalf of Airtel Africa is Simon O'Hara, Group Company Secretary.

About Airtel Africa

Airtel Africa is a leading provider of telecommunications and mobile money services, with operations in 14 countries in sub-Saharan Africa. Airtel Africa provides an integrated offer to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally. The company's strategy is focused on providing a great customer experience across the entire footprint, enabling our corporate purpose of transforming lives across Africa.

www.airtel.africa

Important Notice

The information contained in this announcement is for background purposes only and does not purport to be full or complete, nor does this announcement constitute or form part of any invitation or inducement to engage in investment activity. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.

This announcement is not for release, publication or distribution in whole or in part, directly or indirectly, in or into or from the United States (including its territories or possessions or any State of the United States and the District of Columbia, together, the 'United States'), Canada, Australia, New Zealand, South Africa, Japan or any other jurisdiction where such distribution would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement does not constitute a prospectus or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, or otherwise invest in, shares to any person in any jurisdiction, including to any person in any jurisdiction, to whom or in which such offer or solicitation is unlawful, including the United States, Canada, Australia, New Zealand, South Africa or Japan. The shares referred to in the Announcement have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the 'Securities Act'), or the securities laws of any state or other jurisdiction of the United States, and may not be offered, sold, resold, pledged, delivered, distributed or otherwise transferred, directly or indirectly, in the United States, except to qualified institutional buyers ('QIBs') as defined in, and in reliance on, Rule 144A under the Securities Act ('Rule 144A') or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction in the United States. Airtel Money has not registered and does not intend to register any part of the offering in the United States. There will be no public offering of securities by Airtel Money, in connection with the IPO, in the United States, Canada, Australia, New Zealand, South Africa or Japan. Subject to certain exceptions, the shares referred to in the Announcement may not be offered or sold in Canada, Australia, New Zealand, South Africa or Japan or to, or for the account or benefit of, any national, resident or citizen of Canada, Australia, New Zealand, South Africa or Japan.

This announcement contains certain forward-looking statements regarding intentions, beliefs or current expectations. These statements are often, but not always, made through the use of words or phrases such as "believe", "anticipate", "could", "may", "would", "should", "intend", "plan", "potential", "predict", "will", "expect", "estimate", "project", "positioned", "strategy", "outlook", "target" and similar expressions. It is believed that the expectations reflected in this announcement are reasonable, but they may be affected by a wide range of variables that could cause actual results to differ materially from those currently anticipated. All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the expectations expressed in the forward-looking statements.

The information in this announcement is subject to change. There is no guarantee that Admission will occur. Potential investors should not base their investment decisions on this announcement or any part of it.

Nothing contained in this announcement constitutes or should be construed as being investment, financial, tax, accounting or legal advice.

 

END