Airtel Money Slips Beneath Flotation Price In London Arabian Post
The stock rose briefly to £2 before retreating to £1.93, three pence below the £1.96 offer price. That represented a decline of approximately 1.5% from the flotation price, reversing the modest gains recorded earlier during conditional trading.
The offering valued Airtel Mobile Commerce, the business operating as Airtel Money, at approximately £5.3 billion, equivalent to $7 billion. Its arrival represented one of London's largest flotations in years and provided an important test of investor appetite for new listings on the exchange.
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