Airtel Africa said Airtel Mobile Commerce (Airtel Money) plans to launch an initial public offering and seek a listing on the London Stock Exchange, according to a London Stock Exchange filing.

The IPO will involve existing shareholders selling shares in Airtel Money, with no new capital to be raised by the company. Airtel Africa currently owns 77.85% of Airtel Money and expects to remain a long-term shareholder after the listing.

Airtel Africa is a subsidiary of Bharti Airtel (NSE:BHARTIARTL, BOM:890157).