Airtel Money Cuts Planned London IPO Target to at Least $800 Million

Airtel Money is reportedly scaling back the size and valuation of its planned London initial public offering following feedback from prospective investors. The mobile money business, owned by Airtel Africa, is now seeking to raise at least $800 million, significantly below the $1.5 billion to $2 billion previously under consideration. The IPO could be launched as early as next week, Bloomberg reported, citing people familiar with the plans.