Key facts
- Airtel plans to list its mobile money business, Airtel Money, on the London Stock Exchange by the end of 2026.
- Airtel Money is expected to be valued at up to $10bn.
- Fintech firm Sumup is targeting an initial public offering in London in early 2027.
- The UK has been a leading player in the fintech space, but London has seen a decline in listings.
- The National Investment Fund of the Republic of Uzbekistan's $604m IPO in May was the largest of 2026 for the London Stock Exchange.
Telecommunications giant Airtel and fintech firm Sumup are poised to list on the London Stock Exchange, potentially injecting significant value and activity into the market. Airtel plans to list its mobile money business, Airtel Money, by the end of 2026, with an expected valuation of up to $10 billion. This move aims to broaden its international investor base and could encourage other African companies to list in London.
Sumup is also targeting an early 2027 IPO in London, a decision influenced by a desire to avoid the volatility that has impacted Europe's IPO market. While other venues were considered, London remains the preferred choice for both companies.
These potential listings come at a time when the London Stock Exchange has experienced a slowdown in new listings. The National Investment Fund of the Republic of Uzbekistan's $604 million IPO in May was the largest of the year. Experts believe that successful fintech IPOs in London could attract more international businesses, including those from Latin America, seeking a venue less dominated by tech giants compared to the US.
Bankers are carefully timing these deals to avoid disruptive political events in late 2026, such as the US midterms and UK political party conferences. The potential US listings of AI firms Anthropic and OpenAI could also divert attention and capital. The UK Treasury and Financial Conduct Authority are actively working to improve London's listing incentives to attract more fintech unicorns, including companies like Monzo, Zilch, and Revolut.