Airtel Money Commerce NV, the mobile payments arm of Airtel Africa Plc, has filed for an initial public offering in London that could raise at least $800 million, potentially marking the largest UK listing in five years. The move allows existing investors to sell shares, with Indian billionaire Sunil Mittal’s Bharti Enterprises Ltd retaining majority ownership. The offering would surpass the total raised by London IPOs this year, which have lagged below $700 million.

Details including deal size and pricing are expected in early October, with the final offer price targeted for mid-month. The International Finance Corporation has committed to purchasing $90 million of shares. Airtel Money processed $213 billion across 53 million monthly active users in the year through June, with East Africa as its largest market and strong presence in Nigeria and French-speaking Africa.

The company cited London’s emerging-market investor base and fintech expertise as key reasons for the listing location. The Financial Conduct Authority recently streamlined IPO processes to boost market competitiveness. Citigroup, Barclays, Bank of America, Goldman Sachs, and JPMorgan are arranging the deal.