Airtel Mobile has filed for what could be London’s largest initial public offering in five years. Is the City's struggling IPO market making a comeback? Charles Capel explains

AIRTEL MONEY FILES FOR LONDON IPO, TARGETING $8B-$9B VALUATION African mobile payments company Airtel Money has filed to list on the main market of the London Stock Exchange, aiming to raise at least $800M. The company is targeting a valuation of roughly $8B-$9B, per FT. Airtel Money has more than 53M monthly active users and generated $1.36B in revenue in its latest fiscal year. Parent company Airtel Africa currently owns about 78% and plans to remain a long-term strategic shareholder after the listing. Airtel Money expects a free float of at least 10%. The deal would rank among London’s largest IPOs in recent years, at a time when the UK market has seen just seven listings this year, raising £577M. Source: FT