Airtel Money’s owners are considering raising less money than previously sought in the company’s initial public offering, a listing process that could start as soon as next week, according to people familiar with the matter. The money transfer and payments company’s IPO is now expected to raise at least $800 million in London, the people said, asking not to be identified as the information is private.

That is substantially lower than the previously targeted deal size of $1.5 billion to $2 billion that Bloomberg News reported in April.

The downsized offering reflects shifting market conditions and investor appetite for fintech listings, particularly in Europe where valuations have faced pressure. Airtel Money, which operates across multiple African markets, has been expanding its digital financial services footprint amid growing competition from mobile money providers.

The company has not yet commented publicly on the potential IPO timeline or pricing details. Sources indicated that final terms remain subject to change based on book-building progress and overall market sentiment.