Mobile network operator Airtel Africa, which has Nigeria as its biggest market, is giving thought to launching a public shares sale for its mobile money arm, whose valuation exceeds $4 billion once the transaction is completed.
It has been in talks with possible advisors for a planned listing of the shares from the initial public offer on a stock exchange, yet to be decided, in any of London, the UAE and Europe, Bloomberg reported Wednesday, citing sources with the knowledge of the move.
Airtel Money needs to be separated from its parent as a standalone entity before it can attain the prestige of trading on a stock exchange.
